Charles Schwab Investment Management Inc. Sells 114,385 Shares of Plymouth Industrial REIT $PLYM

Charles Schwab Investment Management Inc. trimmed its position in shares of Plymouth Industrial REIT (NYSE:PLYM) by 17.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 544,819 shares of the company’s stock after selling 114,385 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.20% of Plymouth Industrial REIT worth $8,881,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Westwood Holdings Group Inc. lifted its stake in shares of Plymouth Industrial REIT by 33.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company’s stock worth $64,634,000 after acquiring an additional 901,251 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of Plymouth Industrial REIT in the fourth quarter worth approximately $9,612,000. Peregrine Capital Management LLC acquired a new position in shares of Plymouth Industrial REIT in the first quarter worth approximately $5,199,000. Heartland Advisors Inc. lifted its stake in shares of Plymouth Industrial REIT by 56.7% in the first quarter. Heartland Advisors Inc. now owns 549,900 shares of the company’s stock worth $8,963,000 after acquiring an additional 198,900 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Plymouth Industrial REIT by 120.6% in the fourth quarter. Invesco Ltd. now owns 151,769 shares of the company’s stock worth $2,701,000 after acquiring an additional 82,965 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wedbush raised Plymouth Industrial REIT to a “hold” rating in a research note on Wednesday, July 2nd. Wall Street Zen upgraded Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. JMP Securities reiterated a “market perform” rating on shares of Plymouth Industrial REIT in a report on Wednesday, August 20th. Citizens Jmp downgraded Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. Finally, Robert W. Baird lowered their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.67.

Plymouth Industrial REIT Trading Down 0.0%

NYSE PLYM opened at $21.1060 on Tuesday. The company has a market cap of $940.36 million, a price-to-earnings ratio of 7.33 and a beta of 1.11. Plymouth Industrial REIT has a 52 week low of $12.70 and a 52 week high of $24.70. The business has a 50 day moving average price of $16.13 and a 200-day moving average price of $16.03. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.15.

Plymouth Industrial REIT (NYSE:PLYM) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. Plymouth Industrial REIT had a return on equity of 24.24% and a net margin of 67.77%.The business had revenue of $47.20 million during the quarter, compared to the consensus estimate of $46.20 million. As a group, equities analysts expect that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, June 30th. Plymouth Industrial REIT’s dividend payout ratio is currently 33.33%.

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.