Nisa Investment Advisors LLC Reduces Position in Plymouth Industrial REIT (NYSE:PLYM)

Nisa Investment Advisors LLC trimmed its position in Plymouth Industrial REIT (NYSE:PLYM) by 9.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,080 shares of the company’s stock after selling 996 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Plymouth Industrial REIT were worth $167,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Pinebridge Investments L.P. grew its position in Plymouth Industrial REIT by 4.3% during the fourth quarter. Pinebridge Investments L.P. now owns 18,688 shares of the company’s stock valued at $333,000 after acquiring an additional 773 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Plymouth Industrial REIT by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company’s stock valued at $406,000 after acquiring an additional 817 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Plymouth Industrial REIT by 38.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock worth $54,000 after buying an additional 844 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Plymouth Industrial REIT by 1.6% in the 1st quarter. D.A. Davidson & CO. now owns 58,905 shares of the company’s stock worth $960,000 after buying an additional 949 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in Plymouth Industrial REIT by 1.5% in the 4th quarter. Meeder Asset Management Inc. now owns 71,087 shares of the company’s stock worth $1,265,000 after buying an additional 1,063 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLYM. Wall Street Zen downgraded Plymouth Industrial REIT from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Barclays cut their target price on 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. Truist Financial cut their price objective on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Monday, March 24th. KeyCorp dropped their price target on Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Robert W. Baird decreased their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Plymouth Industrial REIT presently has an average rating of “Hold” and a consensus price target of $21.10.

Plymouth Industrial REIT Stock Performance

Shares of Plymouth Industrial REIT stock opened at $15.42 on Friday. Plymouth Industrial REIT has a one year low of $12.70 and a one year high of $24.71. The company has a market cap of $702.15 million, a price-to-earnings ratio of 5.05 and a beta of 1.11. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.27 and a current ratio of 0.27. The business’s 50 day moving average price is $16.22 and its 200 day moving average price is $16.21.

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

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 6.23%. The ex-dividend date of this dividend is Monday, June 30th. Plymouth Industrial REIT’s payout ratio is currently 31.48%.

About Plymouth Industrial REIT

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.