Plymouth Industrial REIT $PLYM Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its position in Plymouth Industrial REIT (NYSE:PLYM) by 6.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PLYM. GAMMA Investing LLC raised 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. Copeland Capital Management LLC raised its position in shares of Plymouth Industrial REIT by 79.9% in the first quarter. Copeland Capital Management LLC now owns 3,509 shares of the company’s stock valued at $57,000 after buying an additional 1,558 shares during the last quarter. New York State Teachers Retirement System acquired a new position in Plymouth Industrial REIT during the first quarter worth approximately $60,000. PNC Financial Services Group Inc. increased its position in Plymouth Industrial REIT by 43.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the company’s stock worth $75,000 after purchasing an additional 1,375 shares during the last quarter. Finally, Signaturefd LLC increased its position in Plymouth Industrial REIT by 181.8% during the first quarter. Signaturefd LLC now owns 4,946 shares of the company’s stock worth $81,000 after purchasing an additional 3,191 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on PLYM. Citizens Jmp lowered shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Barclays upped their price target on shares of Plymouth Industrial REIT from $18.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, September 15th. BMO Capital Markets upped their price target on shares of 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 shares of Plymouth Industrial REIT to a “hold” rating in a research report on Wednesday, July 2nd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, August 20th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Plymouth Industrial REIT currently has an average rating of “Hold” and an average price target of $21.33.

Plymouth Industrial REIT Trading Up 0.2%

Shares of NYSE:PLYM opened at $22.04 on Friday. The company has a market cap of $981.88 million, a PE ratio of 7.65 and a beta of 1.17. The company’s 50-day moving average price is $18.30 and its 200 day moving average price is $16.73. Plymouth Industrial REIT has a fifty-two week low of $12.70 and a fifty-two week high of $23.10. 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 issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.46 earnings per share 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 for the quarter, compared to the consensus estimate of $46.20 million. Sell-side analysts anticipate that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Dividend Announcement

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 $0.24 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 4.4%. Plymouth Industrial REIT’s payout ratio is currently 33.33%.

Plymouth Industrial REIT Company 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.