BROOKFIELD Corp ON Invests $3.89 Million in Plymouth Industrial REIT $PLYM

Key Points

• BROOKFIELD Corp ON has invested approximately $3.89 million to acquire a new position of 238,902 shares in Plymouth Industrial REIT, representing about 0.52% of the company.
• Plymouth Industrial REIT reported $0.46 earnings per share for the latest quarter, exceeding analyst expectations, along with a revenue of $47.20 million, surpassing predictions as well.
• The company recently declared a quarterly dividend of $0.24 per share, which provides an annualized yield of 4.3% and reflects a dividend payout ratio of 33.33%.

BROOKFIELD Corp ON purchased a new stake in shares of Plymouth Industrial REIT (NYSE:PLYM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 238,902 shares of the company's stock, valued at approximately $3,894,000. BROOKFIELD Corp ON owned approximately 0.52% of Plymouth Industrial REIT as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PLYM. GAMMA Investing LLC increased its holdings in 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. Janney Montgomery Scott LLC purchased a new position in Plymouth Industrial REIT during the first quarter valued at approximately $408,000. Adage Capital Partners GP L.L.C. increased its holdings in Plymouth Industrial REIT by 29.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 700,000 shares of the company's stock valued at $11,410,000 after buying an additional 160,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 valued at $406,000 after buying an additional 817 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Plymouth Industrial REIT by 7.8% during the first quarter. Russell Investments Group Ltd. now owns 128,593 shares of the company's stock valued at $2,096,000 after buying an additional 9,340 shares during the period. Institutional investors own 92.67% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PLYM shares. BMO Capital Markets lifted their price objective on shares of Plymouth Industrial REIT from $17.00 to $24.00 and gave the company a "market perform" rating in a report on Thursday, August 21st. Truist Financial lifted their price target on shares of Plymouth Industrial REIT from $18.00 to $21.00 and gave the stock a "hold" rating in a report on Wednesday, August 20th. Citizens Jmp lowered shares of Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Wall Street Zen raised shares of Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Plymouth Industrial REIT in a report on Wednesday, August 20th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Plymouth Industrial REIT currently has an average rating of "Hold" and an average price target of $21.33.

Plymouth Industrial REIT Price Performance

Shares of Plymouth Industrial REIT stock traded up $0.13 during trading hours on Wednesday, reaching $22.10. The stock had a trading volume of 509,368 shares, compared to its average volume of 494,380. The stock's 50 day moving average is $17.95 and its 200 day moving average is $16.63. The firm has a market capitalization of $984.73 million, a PE ratio of 7.68 and a beta of 1.17. Plymouth Industrial REIT has a twelve month low of $12.70 and a twelve month high of $23.40. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.15.

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

Plymouth Industrial REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.3%. Plymouth Industrial REIT's payout ratio is currently 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.