Plymouth Industrial REIT, Inc. (NYSE:PLYM) Stake Boosted by Pensionfund Sabic

Pensionfund Sabic increased its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 12.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,027 shares of the company’s stock after purchasing an additional 5,000 shares during the quarter. Pensionfund Sabic’s holdings in Plymouth Industrial REIT were worth $991,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in PLYM. Swiss National Bank lifted its stake in Plymouth Industrial REIT by 0.9% in the third quarter. Swiss National Bank now owns 85,200 shares of the company’s stock valued at $1,785,000 after buying an additional 800 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Plymouth Industrial REIT by 53.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 471,532 shares of the company’s stock valued at $9,879,000 after purchasing an additional 164,031 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Plymouth Industrial REIT by 14.1% during the third quarter. Deutsche Bank AG now owns 24,773 shares of the company’s stock valued at $519,000 after purchasing an additional 3,066 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Plymouth Industrial REIT by 27.4% during the third quarter. Envestnet Asset Management Inc. now owns 175,421 shares of the company’s stock valued at $3,675,000 after purchasing an additional 37,717 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank raised its stake in shares of Plymouth Industrial REIT by 100.0% during the third quarter. Cape Cod Five Cents Savings Bank now owns 140,852 shares of the company’s stock valued at $2,951,000 after purchasing an additional 70,426 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PLYM shares. Truist Financial cut their price objective on shares of Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Barclays began coverage on Plymouth Industrial REIT in a report on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.00.

Plymouth Industrial REIT Trading Up 1.1 %

Shares of PLYM opened at $21.10 on Thursday. The business’s 50-day moving average price is $20.83 and its 200 day moving average price is $21.99. The stock has a market capitalization of $957.52 million, a P/E ratio of 49.07, a P/E/G ratio of 1.59 and a beta of 1.36. Plymouth Industrial REIT, Inc. has a 1-year low of $19.21 and a 1-year high of $25.55. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.46.

Plymouth Industrial REIT (NYSE:PLYM) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.33). The company had revenue of $50.23 million during the quarter, compared to analysts’ expectations of $50.73 million. Plymouth Industrial REIT had a return on equity of 4.74% and a net margin of 11.42%. During the same period in the prior year, the business posted $0.45 EPS. Analysts expect that Plymouth Industrial REIT, Inc. will post 1.9 earnings per share for the current year.

Plymouth Industrial REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.96 dividend on an annualized basis and a yield of 4.55%. Plymouth Industrial REIT’s payout ratio is presently 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.