Allianz Asset Management GmbH Invests $729,000 in Plymouth Industrial REIT (NYSE:PLYM)

Key Points

• Allianz Asset Management GmbH has acquired a new position in Plymouth Industrial REIT, purchasing 44,729 shares valued at approximately $729,000.
• Institutional investors now own 92.67% of Plymouth Industrial REIT's stock, indicating strong interest and investment in the company.
• Plymouth Industrial REIT recently declared a quarterly dividend of $0.24 per share, resulting in an annualized dividend yield of 6.7%.

Allianz Asset Management GmbH bought a new position in shares of Plymouth Industrial REIT (NYSE:PLYM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 44,729 shares of the company's stock, valued at approximately $729,000. Allianz Asset Management GmbH owned 0.10% of Plymouth Industrial REIT as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC raised its position in shares of Plymouth Industrial REIT by 38.1% during the 4th 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. GAMMA Investing LLC raised 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 valued at $54,000 after acquiring an additional 3,294 shares in the last quarter. Quarry LP raised its position 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 acquiring an additional 1,358 shares in the last quarter. Copeland Capital Management LLC raised its position in shares of Plymouth Industrial REIT by 79.9% during the 1st quarter. Copeland Capital Management LLC now owns 3,509 shares of the company's stock valued at $57,000 after acquiring an additional 1,558 shares in the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in shares of Plymouth Industrial REIT during the 1st quarter valued at approximately $60,000. Hedge funds and other institutional investors own 92.67% of the company's stock.

Plymouth Industrial REIT Stock Down 1.0%

Shares of Plymouth Industrial REIT stock traded down $0.15 during trading on Friday, reaching $14.37. The stock had a trading volume of 468,023 shares, compared to its average volume of 338,399. The company has a market capitalization of $654.55 million, a price-to-earnings ratio of 4.71 and a beta of 1.11. The stock has a fifty day moving average price of $16.01 and a two-hundred day moving average price of $16.05. Plymouth Industrial REIT has a 52 week low of $12.70 and a 52 week high of $24.70. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.08.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.44 earnings per share (EPS) 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 company had revenue of $45.57 million for the quarter, compared to the consensus estimate of $47.69 million. Sell-side analysts predict that Plymouth Industrial REIT will post 1.83 EPS for the current fiscal year.

Plymouth Industrial REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 6.7%. The ex-dividend date was Monday, June 30th. Plymouth Industrial REIT's dividend payout ratio is 31.48%.

Analyst Ratings Changes

A number of research analysts recently commented on PLYM shares. Robert W. Baird lowered their price objective on 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. Wedbush upgraded Plymouth Industrial REIT to a "hold" rating in a research note on Wednesday, July 2nd. KeyCorp decreased their price target on 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. Finally, Wall Street Zen cut 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $21.10.

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.