Rhumbline Advisers Sells 4,835 Shares of Plymouth Industrial REIT (NYSE:PLYM)

Rhumbline Advisers lessened its position in shares of Plymouth Industrial REIT (NYSE:PLYM) by 6.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,694 shares of the company’s stock after selling 4,835 shares during the period. Rhumbline Advisers owned about 0.15% of Plymouth Industrial REIT worth $1,120,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of Plymouth Industrial REIT by 6,862.5% in the first quarter. GAMMA Investing LLC now owns 3,342 shares of the company’s stock valued at $54,000 after buying an additional 3,294 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Plymouth Industrial REIT by 25.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 258,599 shares of the company’s stock worth $4,603,000 after purchasing an additional 53,012 shares during the last quarter. PharVision Advisers LLC acquired a new position in Plymouth Industrial REIT in the fourth quarter valued at $241,000. Westwood Holdings Group Inc. grew its position in shares of Plymouth Industrial REIT by 33.0% during the 4th quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company’s stock worth $64,634,000 after buying an additional 901,251 shares during the period. Finally, Two Sigma Advisers LP increased its position in Plymouth Industrial REIT by 0.6% in the 4th quarter. Two Sigma Advisers LP now owns 185,700 shares of the company’s stock valued at $3,305,000 after buying an additional 1,100 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Price Performance

PLYM opened at $16.47 on Friday. The firm has a market cap of $750.30 million, a PE ratio of 5.40 and a beta of 1.12. Plymouth Industrial REIT has a 1 year low of $12.70 and a 1 year high of $24.71. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a 50-day moving average price of $15.66 and a 200-day moving average price of $16.51.

Plymouth Industrial REIT (NYSE:PLYM) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). Plymouth Industrial REIT had a return on equity of 26.42% and a net margin of 71.08%. The business had revenue of $45.57 million during the quarter, compared to the consensus estimate of $47.69 million. Sell-side analysts predict that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.83%. The ex-dividend date is Monday, June 30th. Plymouth Industrial REIT’s dividend payout ratio is currently 31.48%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Robert W. Baird dropped their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. KeyCorp dropped their price target on Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Truist Financial decreased their price objective on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Monday, March 24th. Barclays decreased their price objective on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Monday, March 31st. Finally, Wedbush set a $17.00 target price on shares of Plymouth Industrial REIT in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $21.10.

Plymouth Industrial REIT Profile

Plymouth Industrial REIT, Inc (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost effective space that is functional, flexible and safe.