Janney Montgomery Scott LLC Purchases Shares of 25,025 Plymouth Industrial REIT (NYSE:PLYM)

Janney Montgomery Scott LLC acquired a new position in Plymouth Industrial REIT (NYSE:PLYM) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 25,025 shares of the company’s stock, valued at approximately $408,000.

Several other hedge funds also recently made changes to their positions in the business. Quadrant Capital Group LLC increased its stake in Plymouth Industrial REIT by 38.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock valued at $54,000 after buying an additional 844 shares during the period. Quarry LP raised its holdings in Plymouth Industrial REIT by 74.1% in the 4th quarter. Quarry LP now owns 3,191 shares of the company’s stock worth $57,000 after acquiring an additional 1,358 shares during the period. GAMMA Investing LLC lifted its position in shares of Plymouth Industrial REIT by 6,862.5% during the 1st quarter. GAMMA Investing LLC now owns 3,342 shares of the company’s stock worth $54,000 after purchasing an additional 3,294 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Plymouth Industrial REIT during the 4th quarter valued at $148,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Plymouth Industrial REIT during the fourth quarter valued at about $194,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Plymouth Industrial REIT Trading Up 0.7%

Shares of PLYM stock opened at $16.35 on Friday. Plymouth Industrial REIT has a 12-month low of $12.70 and a 12-month high of $24.71. The company has a market capitalization of $744.74 million, a P/E ratio of 5.36 and a beta of 1.11. The firm has a 50-day moving average price of $16.05 and a 200 day moving average price of $16.35. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.08.

Plymouth Industrial REIT (NYSE:PLYM) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). Plymouth Industrial REIT had a return on equity of 26.42% and a net margin of 71.08%. The firm had revenue of $45.57 million for the quarter, compared to analyst estimates of $47.69 million. Research analysts forecast that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.96 dividend on an annualized basis and a yield of 5.87%. Plymouth Industrial REIT’s dividend payout ratio is 31.48%.

Wall Street Analyst Weigh In

Several research analysts recently commented on PLYM shares. Barclays reduced their target price on Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating for the company in a research report on Monday, March 31st. Wall Street Zen lowered shares of Plymouth Industrial REIT from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. KeyCorp lowered their target price on shares of Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Truist Financial dropped their price target on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Monday, March 24th. Finally, Robert W. Baird decreased their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.10.

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.