AlphaQuest LLC Sells 45,229 Shares of Plymouth Industrial REIT $PLYM

AlphaQuest LLC lessened its holdings in Plymouth Industrial REIT (NYSE:PLYM) by 90.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,685 shares of the company’s stock after selling 45,229 shares during the period. AlphaQuest LLC’s holdings in Plymouth Industrial REIT were worth $75,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. raised its holdings in shares of Plymouth Industrial REIT by 24.5% in the first quarter. Westwood Holdings Group Inc. now owns 4,520,361 shares of the company’s stock valued at $73,682,000 after buying an additional 889,250 shares during the last quarter. MetLife Investment Management LLC increased its position in Plymouth Industrial REIT by 2,406.8% in the 1st quarter. MetLife Investment Management LLC now owns 656,826 shares of the company’s stock valued at $10,706,000 after acquiring an additional 630,624 shares in the last quarter. Strs Ohio bought a new position in Plymouth Industrial REIT in the first quarter valued at about $6,652,000. BROOKFIELD Corp ON acquired a new position in shares of Plymouth Industrial REIT in the 1st quarter valued at $3,894,000. Finally, Heartland Advisors Inc. increased its stake in shares of Plymouth Industrial REIT by 56.7% in the 1st quarter. Heartland Advisors Inc. now owns 549,900 shares of the company’s stock valued at $8,963,000 after acquiring an additional 198,900 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on PLYM shares. Wall Street Zen raised shares of Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Citizens Jmp cut shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. Barclays decreased their price target on shares of 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. Baird R W downgraded Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Finally, Robert W. Baird lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $19.00 to $24.00 in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.55.

Plymouth Industrial REIT Price Performance

Shares of PLYM opened at $22.01 on Thursday. 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. The business has a 50-day moving average of $21.96 and a 200-day moving average of $18.15. The company has a market capitalization of $980.32 million, a price-to-earnings ratio of 7.64 and a beta of 1.18.

Plymouth Industrial REIT (NYSE:PLYM) last released its earnings results 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. The business had revenue of $47.20 million for the quarter, compared to analyst estimates of $46.20 million. Plymouth Industrial REIT had a net margin of 67.77% and a return on equity of 24.24%. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 4.4%. 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.