Plymouth Industrial REIT $PLYM Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH reduced its stake in shares of Plymouth Industrial REIT (NYSE:PLYM) by 47.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,406 shares of the company’s stock after selling 21,323 shares during the quarter. Allianz Asset Management GmbH owned about 0.05% of Plymouth Industrial REIT worth $376,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLYM. Parallel Advisors LLC boosted its holdings in shares of Plymouth Industrial REIT by 136.1% in the second quarter. Parallel Advisors LLC now owns 1,594 shares of the company’s stock valued at $26,000 after acquiring an additional 919 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Plymouth Industrial REIT by 1.6% in the first quarter. D.A. Davidson & CO. now owns 58,905 shares of the company’s stock valued at $960,000 after acquiring an additional 949 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Plymouth Industrial REIT by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,804 shares of the company’s stock worth $388,000 after buying an additional 982 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in Plymouth Industrial REIT by 8.7% during the first quarter. Resona Asset Management Co. Ltd. now owns 17,168 shares of the company’s stock worth $288,000 after buying an additional 1,370 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings 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 buying an additional 1,375 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on PLYM shares. JMP Securities reissued a “market perform” rating on shares of Plymouth Industrial REIT in a report on Wednesday, August 20th. Citizens Jmp downgraded shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. Wedbush raised shares of Plymouth Industrial REIT to a “hold” rating in a report on Wednesday, July 2nd. Industrial Alliance Securities set a $22.00 price objective on shares of Plymouth Industrial REIT in a report on Monday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Plymouth Industrial REIT in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.55.

Plymouth Industrial REIT Trading Up 0.1%

Plymouth Industrial REIT stock opened at $21.93 on Wednesday. The firm’s 50-day moving average is $21.87 and its 200-day moving average is $17.83. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.13 and a current ratio of 0.13. Plymouth Industrial REIT has a 1 year low of $12.70 and a 1 year high of $22.65. The company has a market cap of $976.76 million, a P/E ratio of 7.61 and a beta of 1.16.

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

Plymouth Industrial REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a $0.24 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.96 annualized dividend and a yield of 4.4%. Plymouth Industrial REIT’s dividend payout ratio (DPR) 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.