Allianz Asset Management GmbH Purchases New Holdings 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 stake in Plymouth Industrial REIT (NYSE:PLYM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 44,729 shares of the company's stock, valued at approximately $729,000. Allianz Asset Management GmbH owned approximately 0.10% of Plymouth Industrial REIT as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PLYM. Pinebridge Investments L.P. grew its stake in Plymouth Industrial REIT by 4.3% in the fourth quarter. Pinebridge Investments L.P. now owns 18,688 shares of the company's stock valued at $333,000 after purchasing an additional 773 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Plymouth Industrial REIT by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company's stock worth $406,000 after purchasing an additional 817 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Plymouth Industrial REIT by 38.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company's stock worth $54,000 after purchasing an additional 844 shares during the period. D.A. Davidson & CO. lifted its holdings in Plymouth Industrial REIT by 1.6% in the first quarter. D.A. Davidson & CO. now owns 58,905 shares of the company's stock valued at $960,000 after acquiring an additional 949 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in Plymouth Industrial REIT by 0.6% in the fourth quarter. Two Sigma Advisers LP now owns 185,700 shares of the company's stock valued at $3,305,000 after acquiring an additional 1,100 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Robert W. Baird lowered their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Wall Street Zen cut Plymouth Industrial REIT from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. KeyCorp dropped their target price 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, Wedbush raised Plymouth Industrial REIT to a "hold" rating in a research report on Wednesday, July 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $20.44.

Plymouth Industrial REIT Price Performance

Plymouth Industrial REIT stock traded down $0.20 during mid-day trading on Wednesday, reaching $14.35. The company had a trading volume of 103,980 shares, compared to its average volume of 364,585. The company has a market cap of $653.60 million, a P/E ratio of 4.71 and a beta of 1.11. The business has a fifty day simple moving average of $15.95 and a 200 day simple moving average of $16.02. 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 has a fifty-two week low of $12.70 and a fifty-two week high of $24.70.

Plymouth Industrial REIT Announces Dividend

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

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.