Russell Investments Group Ltd. Boosts Holdings in Plymouth Industrial REIT $PLYM

Russell Investments Group Ltd. lifted its stake in Plymouth Industrial REIT (NYSE:PLYM) by 7.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,593 shares of the company’s stock after purchasing an additional 9,340 shares during the quarter. Russell Investments Group Ltd. owned 0.28% of Plymouth Industrial REIT worth $2,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Plymouth Industrial REIT by 6,862.5% in the 1st quarter. GAMMA Investing LLC now owns 3,342 shares of the company’s stock worth $54,000 after purchasing an additional 3,294 shares during the last quarter. Legal & General Group Plc raised its position in Plymouth Industrial REIT by 17.3% in the 4th quarter. Legal & General Group Plc now owns 41,472 shares of the company’s stock worth $738,000 after buying an additional 6,119 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Plymouth Industrial REIT in the 1st quarter worth about $408,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Plymouth Industrial REIT by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company’s stock worth $406,000 after buying an additional 817 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Plymouth Industrial REIT by 4.0% in the 4th quarter. Bank of America Corp DE now owns 139,150 shares of the company’s stock worth $2,477,000 after buying an additional 5,359 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

PLYM has been the subject of a number of recent analyst reports. Truist Financial boosted their target price on Plymouth Industrial REIT from $18.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, August 20th. BMO Capital Markets boosted their target price on Plymouth Industrial REIT from $17.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, August 21st. Wedbush raised Plymouth Industrial REIT to a “hold” rating in a research report on Wednesday, July 2nd. JMP Securities reissued a “market perform” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, August 20th. Finally, Citizens Jmp lowered Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.67.

Plymouth Industrial REIT Price Performance

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

Plymouth Industrial REIT (NYSE:PLYM) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. Plymouth Industrial REIT had a net margin of 67.77% and a return on equity of 24.24%. The firm had revenue of $47.20 million during the quarter, compared to analyst estimates of $46.20 million. Equities research analysts anticipate that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a 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.