Barnett & Company Inc. Makes New Investment in Plymouth Industrial REIT (NYSE:PLYM)

Key Points

• Barnett & Company Inc. acquired 109,690 shares of Plymouth Industrial REIT, valued at approximately $1.79 million, making it the firm's 21st largest holding.
• Plymouth Industrial REIT reported a quarterly earnings per share of $0.46, exceeding analyst expectations, and generated $47.2 million in revenue.
• The company announced a quarterly dividend of $0.24 per share, representing an annualized yield of 6.7% and a payout ratio of 33.33%.

Barnett & Company Inc. purchased a new position in Plymouth Industrial REIT (NYSE:PLYM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 109,690 shares of the company's stock, valued at approximately $1,788,000. Plymouth Industrial REIT makes up 1.5% of Barnett & Company Inc.'s portfolio, making the stock its 21st largest position. Barnett & Company Inc. owned approximately 0.24% of Plymouth Industrial REIT as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its holdings in 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 purchasing an additional 844 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Plymouth Industrial REIT by 6,862.5% during the first quarter. GAMMA Investing LLC now owns 3,342 shares of the company's stock valued at $54,000 after buying an additional 3,294 shares during the period. Quarry LP grew its stake in shares of Plymouth Industrial REIT by 74.1% during the fourth quarter. Quarry LP now owns 3,191 shares of the company's stock valued at $57,000 after buying an additional 1,358 shares during the last quarter. Copeland Capital Management LLC raised its holdings in shares of Plymouth Industrial REIT by 79.9% in the first quarter. Copeland Capital Management LLC now owns 3,509 shares of the company's stock worth $57,000 after buying an additional 1,558 shares during the period. Finally, New York State Teachers Retirement System bought a new stake in shares of Plymouth Industrial REIT during the 1st quarter worth approximately $60,000. Hedge funds and other institutional investors own 92.67% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PLYM. Wall Street Zen downgraded Plymouth Industrial REIT from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. 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, Wedbush raised shares of Plymouth Industrial REIT to a "hold" rating in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Plymouth Industrial REIT currently has an average rating of "Hold" and an average price target of $20.44.

Plymouth Industrial REIT Stock Up 1.2%

Shares of PLYM stock traded up $0.18 on Wednesday, hitting $14.94. The stock had a trading volume of 51,527 shares, compared to its average volume of 364,379. The company has a market cap of $665.76 million, a PE ratio of 5.19 and a beta of 1.11. Plymouth Industrial REIT has a one year low of $12.70 and a one year high of $24.70. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.15. The business has a 50 day moving average price of $15.77 and a 200 day moving average price of $15.94.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. Plymouth Industrial REIT had a net margin of 67.77% and a return on equity of 24.24%. The business had revenue of $47.20 million for the quarter, compared to analysts' expectations of $46.20 million. Research analysts anticipate that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.4%. The ex-dividend date was Monday, June 30th. Plymouth Industrial REIT's dividend payout ratio (DPR) is presently 33.33%.

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.