Plymouth Industrial REIT, Inc. (NYSE:PLYM) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lowered its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 32.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,698 shares of the company’s stock after selling 9,105 shares during the quarter. First Trust Advisors LP’s holdings in Plymouth Industrial REIT were worth $333,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its position in shares of Plymouth Industrial REIT by 38.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock worth $54,000 after buying an additional 844 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Plymouth Industrial REIT during the fourth quarter worth about $148,000. SG Americas Securities LLC lifted its holdings in Plymouth Industrial REIT by 15.0% in the fourth quarter. SG Americas Securities LLC now owns 10,390 shares of the company’s stock worth $185,000 after acquiring an additional 1,358 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Plymouth Industrial REIT in the fourth quarter valued at approximately $194,000. Finally, ZWJ Investment Counsel Inc. bought a new position in shares of Plymouth Industrial REIT during the fourth quarter valued at approximately $203,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Truist Financial cut their target price on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Monday, March 24th. KeyCorp reduced their target price on shares of Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Barclays cut their price target on Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating on the stock in a report on Monday, March 31st. Wedbush set a $17.00 price objective on Plymouth Industrial REIT in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. cut their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $21.10.

Plymouth Industrial REIT Trading Up 1.0 %

PLYM stock opened at $15.70 on Friday. The business has a fifty day moving average price of $15.59 and a 200 day moving average price of $17.17. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. Plymouth Industrial REIT, Inc. has a fifty-two week low of $12.70 and a fifty-two week high of $24.71. The stock has a market capitalization of $715.10 million, a price-to-earnings ratio of 785.00 and a beta of 1.11.

Plymouth Industrial REIT (NYSE:PLYM) last released its earnings results on Thursday, May 1st. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Plymouth Industrial REIT had a net margin of 0.46% and a return on equity of 0.20%. The business had revenue of $45.57 million for the quarter, compared to analyst estimates of $47.69 million. Analysts expect that Plymouth Industrial REIT, Inc. will post 1.83 EPS for the current fiscal year.

Plymouth Industrial REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were given a $0.24 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.11%. Plymouth Industrial REIT’s dividend payout ratio is presently 31.48%.

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.