Plymouth Industrial REIT $PLYM Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. decreased its holdings in Plymouth Industrial REIT (NYSE:PLYM) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 186,129 shares of the company’s stock after selling 10,892 shares during the period. Goldman Sachs Group Inc. owned about 0.41% of Plymouth Industrial REIT worth $3,034,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Plymouth Industrial REIT by 6,862.5% during the first quarter. GAMMA Investing LLC now owns 3,342 shares of the company’s stock worth $54,000 after acquiring an additional 3,294 shares in the last quarter. Copeland Capital Management LLC raised its stake in shares of Plymouth Industrial REIT by 79.9% during the 1st quarter. Copeland Capital Management LLC now owns 3,509 shares of the company’s stock worth $57,000 after purchasing an additional 1,558 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of Plymouth Industrial REIT during the 1st quarter worth approximately $60,000. PNC Financial Services Group Inc. grew its holdings in Plymouth Industrial REIT by 43.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the company’s stock valued at $75,000 after buying an additional 1,375 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Plymouth Industrial REIT by 181.8% during the 1st quarter. Signaturefd LLC now owns 4,946 shares of the company’s stock worth $81,000 after purchasing an additional 3,191 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on PLYM. Citizens Jmp downgraded Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Wedbush upgraded Plymouth Industrial REIT to a “hold” rating in a research note on Wednesday, July 2nd. BMO Capital Markets upped their target price on Plymouth Industrial REIT from $17.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, August 21st. Wall Street Zen upgraded Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Barclays increased their price objective on Plymouth Industrial REIT from $18.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, September 15th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Plymouth Industrial REIT has a consensus rating of “Hold” and an average price target of $21.33.

Plymouth Industrial REIT Stock Up 0.2%

Plymouth Industrial REIT stock opened at $22.04 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.15. The stock’s fifty day simple moving average is $18.30 and its 200-day simple moving average is $16.74. The firm has a market capitalization of $981.88 million, a P/E ratio of 7.65 and a beta of 1.17. Plymouth Industrial REIT has a twelve month low of $12.70 and a twelve month high of $23.10.

Plymouth Industrial REIT (NYSE:PLYM) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.46 earnings per share (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 company 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 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.