Zurcher Kantonalbank Zurich Cantonalbank Sells 2,580 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 24.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,979 shares of the company’s stock after selling 2,580 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Plymouth Industrial REIT were worth $192,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PLYM. International Assets Investment Management LLC increased its holdings in Plymouth Industrial REIT by 2,306.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,155 shares of the company’s stock valued at $28,000 after purchasing an additional 1,107 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Plymouth Industrial REIT in the third quarter valued at $390,000. Teacher Retirement System of Texas raised its holdings in shares of Plymouth Industrial REIT by 34.3% in the third quarter. Teacher Retirement System of Texas now owns 20,089 shares of the company’s stock valued at $421,000 after buying an additional 5,135 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Plymouth Industrial REIT by 2.2% in the fourth quarter. State of Alaska Department of Revenue now owns 20,758 shares of the company’s stock valued at $499,000 after buying an additional 447 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Plymouth Industrial REIT by 14.1% during the 3rd quarter. Deutsche Bank AG now owns 24,773 shares of the company’s stock worth $519,000 after buying an additional 3,066 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Buying and Selling

In other news, Director Pendleton P. White bought 4,000 shares of the stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $21.58 per share, with a total value of $86,320.00. Following the completion of the purchase, the director now owns 4,000 shares of the company’s stock, valued at $86,320. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

PLYM has been the subject of a number of research analyst reports. JMP Securities upgraded shares of Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a research report on Monday, January 22nd. Barclays started coverage on Plymouth Industrial REIT in a report on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 price objective on the stock. Finally, Truist Financial lowered their target price on Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

Plymouth Industrial REIT Price Performance

PLYM opened at $20.66 on Wednesday. The company has a fifty day moving average price of $21.39 and a two-hundred day moving average price of $21.99. The firm has a market capitalization of $937.55 million, a PE ratio of 48.05, a P/E/G ratio of 1.54 and a beta of 1.35. Plymouth Industrial REIT, Inc. has a 52 week low of $19.21 and a 52 week high of $25.55. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.12 and a current ratio of 0.12.

Plymouth Industrial REIT (NYSE:PLYM) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.33). Plymouth Industrial REIT had a return on equity of 4.74% and a net margin of 11.42%. The company had revenue of $50.23 million for the quarter, compared to analyst estimates of $50.73 million. During the same period last year, the firm earned $0.45 earnings per share. As a group, analysts anticipate that Plymouth Industrial REIT, Inc. will post 1.91 earnings per share for the current year.

Plymouth Industrial REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.65%. This is an increase from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. The ex-dividend date was Wednesday, March 27th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 223.26%.

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.