Adams Asset Advisors LLC Raises Holdings in Plymouth Industrial REIT (NYSE:PLYM)

Adams Asset Advisors LLC grew its position in Plymouth Industrial REIT (NYSE:PLYM - Free Report) by 29.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,732 shares of the company's stock after buying an additional 17,732 shares during the period. Adams Asset Advisors LLC owned 0.17% of Plymouth Industrial REIT worth $1,267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC boosted its stake in Plymouth Industrial REIT by 38.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company's stock valued at $54,000 after acquiring an additional 844 shares in the last quarter. Quarry LP lifted its holdings in shares of Plymouth Industrial REIT by 74.1% during the 4th quarter. Quarry LP now owns 3,191 shares of the company's stock valued at $57,000 after purchasing an additional 1,358 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Plymouth Industrial REIT by 6,862.5% in 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 in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Plymouth Industrial REIT during the 4th quarter worth $148,000. Finally, Los Angeles Capital Management LLC purchased a new position in Plymouth Industrial REIT during the 4th quarter worth $194,000. Hedge funds and other institutional investors own 92.67% of the company's stock.

Plymouth Industrial REIT Stock Performance

Plymouth Industrial REIT stock traded up $0.00 during trading hours on Friday, hitting $16.45. 464,698 shares of the stock traded hands, compared to its average volume of 329,782. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.27 and a quick ratio of 0.27. The firm's 50 day moving average price is $15.71 and its 200-day moving average price is $16.48. The stock has a market capitalization of $749.34 million, a price-to-earnings ratio of 5.39 and a beta of 1.12. Plymouth Industrial REIT has a 1 year low of $12.70 and a 1 year high of $24.71.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $45.57 million for the quarter, compared to analysts' expectations of $47.69 million. Plymouth Industrial REIT had a net margin of 71.08% and a return on equity of 26.42%. As a group, equities analysts expect that Plymouth Industrial REIT will post 1.83 EPS for the current fiscal year.

Plymouth Industrial REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.84%. Plymouth Industrial REIT's payout ratio is 31.48%.

Wall Street Analysts Forecast Growth

PLYM has been the subject of several recent analyst reports. Barclays lowered their price target on Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating for the company in a report on Monday, March 31st. Wedbush set a $17.00 target price on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. KeyCorp lowered 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. Robert W. Baird lowered their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Finally, Wall Street Zen cut shares of Plymouth Industrial REIT from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Plymouth Industrial REIT currently has a consensus rating of "Hold" and a consensus 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.