Nisa Investment Advisors LLC Sells 2,819 Shares of Plymouth Industrial REIT $PLYM

Nisa Investment Advisors LLC cut its holdings in Plymouth Industrial REIT (NYSE:PLYM) by 28.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,261 shares of the company’s stock after selling 2,819 shares during the period. Nisa Investment Advisors LLC’s holdings in Plymouth Industrial REIT were worth $119,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC lifted its stake in 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 purchasing an additional 919 shares during the last quarter. New York State Teachers Retirement System purchased a new position in Plymouth Industrial REIT in the first quarter valued at approximately $60,000. PNC Financial Services Group Inc. lifted its stake in Plymouth Industrial REIT by 43.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the company’s stock valued at $75,000 after purchasing an additional 1,375 shares during the last quarter. Signaturefd LLC lifted its stake in Plymouth Industrial REIT by 181.8% in the first quarter. Signaturefd LLC now owns 4,946 shares of the company’s stock valued at $81,000 after purchasing an additional 3,191 shares during the last quarter. Finally, Crossingbridge Advisors LLC purchased a new position in Plymouth Industrial REIT in the first quarter valued at approximately $82,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PLYM shares. Citizens Jmp downgraded Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Barclays dropped their price objective on Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, October 27th. Colliers Securities downgraded Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research note on Monday, October 27th. Robert W. Baird downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $19.00 to $24.00 in a research note on Thursday, October 23rd. Finally, Truist Financial increased 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. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.55.

Plymouth Industrial REIT Trading Up 0.4%

NYSE:PLYM opened at $22.11 on Wednesday. The company has a market cap of $984.78 million, a P/E ratio of 7.68 and a beta of 1.18. The stock’s fifty day moving average price is $21.96 and its two-hundred day moving average price is $18.12. Plymouth Industrial REIT has a 1 year low of $12.70 and a 1 year high of $22.65. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.13 and a quick ratio of 0.13.

Plymouth Industrial REIT (NYSE:PLYM) last posted its 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. The firm had revenue of $47.20 million for the quarter, compared to the consensus estimate of $46.20 million. Plymouth Industrial REIT had a return on equity of 24.24% and a net margin of 67.77%. As a group, analysts expect that Plymouth Industrial REIT will post 1.83 EPS for the current year.

Plymouth Industrial REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were issued a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 4.3%. Plymouth Industrial REIT’s dividend payout ratio is presently 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.