Adage Capital Partners GP L.L.C. Makes New Investment in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Adage Capital Partners GP L.L.C. purchased a new position in Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 540,000 shares of the company's stock, valued at approximately $9,612,000. Adage Capital Partners GP L.L.C. owned 1.19% of Plymouth Industrial REIT as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the company. Quadrant Capital Group LLC increased its position 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 in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Plymouth Industrial REIT in the 4th quarter worth $148,000. SG Americas Securities LLC grew its position in Plymouth Industrial REIT by 15.0% in the 4th quarter. SG Americas Securities LLC now owns 10,390 shares of the company's stock valued at $185,000 after purchasing an additional 1,358 shares during the period. Los Angeles Capital Management LLC acquired a new position in Plymouth Industrial REIT during the fourth quarter worth $194,000. Finally, ZWJ Investment Counsel Inc. acquired a new position in shares of Plymouth Industrial REIT during the fourth quarter valued at about $203,000. Institutional investors own 92.67% of the company's stock.

Plymouth Industrial REIT Stock Up 2.6 %

Shares of Plymouth Industrial REIT stock traded up $0.39 on Friday, reaching $15.37. The company's stock had a trading volume of 627,027 shares, compared to its average volume of 309,964. Plymouth Industrial REIT, Inc. has a 52 week low of $12.70 and a 52 week high of $24.71. The firm's fifty day simple moving average is $15.77 and its two-hundred day simple moving average is $17.45. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $700.12 million, a price-to-earnings ratio of 768.50 and a beta of 1.19.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). The company had revenue of $45.57 million for the quarter, compared to the consensus estimate of $47.69 million. Plymouth Industrial REIT had a net margin of 0.46% and a return on equity of 0.20%. Equities analysts anticipate that Plymouth Industrial REIT, Inc. will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a $0.24 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 6.25%. Plymouth Industrial REIT's dividend payout ratio is currently 31.37%.

Wall Street Analyst Weigh In

PLYM has been the topic of several analyst reports. Wedbush set a $17.00 target price on Plymouth Industrial REIT in a research report on Friday, February 28th. KeyCorp cut their target price on 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. JPMorgan Chase & Co. cut their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 14th. Robert W. Baird decreased their target price on Plymouth Industrial REIT from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Finally, Truist Financial lowered their price objective on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a "hold" rating on the stock in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Plymouth Industrial REIT has an average rating of "Hold" and a consensus price target of $21.20.

About Plymouth Industrial REIT

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.