Great Lakes Advisors LLC decreased its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 7.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 226,962 shares of the company's stock after selling 18,271 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.50% of Plymouth Industrial REIT worth $4,040,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP grew its stake in shares of Plymouth Industrial REIT by 88.4% during the 3rd quarter. Quarry LP now owns 1,833 shares of the company's stock worth $41,000 after acquiring an additional 860 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of Plymouth Industrial REIT by 1.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company's stock worth $1,064,000 after acquiring an additional 900 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Plymouth Industrial REIT by 2.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company's stock worth $736,000 after acquiring an additional 952 shares during the period. Rhumbline Advisers grew its stake in shares of Plymouth Industrial REIT by 1.4% during the 4th quarter. Rhumbline Advisers now owns 73,529 shares of the company's stock worth $1,309,000 after acquiring an additional 1,010 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in shares of Plymouth Industrial REIT by 11.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company's stock worth $290,000 after acquiring an additional 1,317 shares during the period. Institutional investors own 92.67% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on PLYM shares. Robert W. Baird cut their target price on Plymouth Industrial REIT from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Truist Financial downgraded Plymouth Industrial REIT from a "buy" rating to a "hold" rating in a research note on Friday, January 17th. JMP Securities restated a "market outperform" rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. JPMorgan Chase & Co. cut their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an "underweight" rating for the company in a research note on Tuesday, January 14th. Finally, Wedbush set a $17.00 target price on Plymouth Industrial REIT in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $22.44.
Read Our Latest Report on PLYM
Plymouth Industrial REIT Price Performance
Shares of NYSE:PLYM traded up $0.05 on Wednesday, hitting $17.49. The company's stock had a trading volume of 337,283 shares, compared to its average volume of 357,782. The company has a 50-day simple moving average of $16.81 and a 200 day simple moving average of $19.10. Plymouth Industrial REIT, Inc. has a 1 year low of $16.06 and a 1 year high of $24.71. The company has a market capitalization of $796.78 million, a PE ratio of 874.60 and a beta of 1.45. 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 Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.49%. Plymouth Industrial REIT's payout ratio is currently 31.37%.
Plymouth Industrial REIT Profile
(
Free Report)
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.
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