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

A number of other large investors also recently modified their holdings of the business. Westwood Holdings Group Inc. lifted its holdings in shares of Plymouth Industrial REIT by 24.5% during the first quarter. Westwood Holdings Group Inc. now owns 4,520,361 shares of the company's stock worth $73,682,000 after buying an additional 889,250 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of 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 worth $11,410,000 after buying an additional 160,000 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Plymouth Industrial REIT by 2,406.8% during the first quarter. MetLife Investment Management LLC now owns 656,826 shares of the company's stock worth $10,706,000 after buying an additional 630,624 shares during the last quarter. Meros Investment Management LP lifted its holdings in shares of Plymouth Industrial REIT by 47.7% during the first quarter. Meros Investment Management LP now owns 573,160 shares of the company's stock worth $9,343,000 after buying an additional 185,170 shares during the last quarter. Finally, Heartland Advisors Inc. lifted its holdings in shares of Plymouth Industrial REIT by 56.7% during the first quarter. Heartland Advisors Inc. now owns 549,900 shares of the company's stock worth $8,963,000 after buying an additional 198,900 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Plymouth Industrial REIT Trading Down 0.3%

PLYM stock opened at $22.11 on Friday. Plymouth Industrial REIT has a 1-year low of $12.70 and a 1-year high of $23.40. The firm has a market cap of $984.78 million, a P/E ratio of 7.68 and a beta of 1.17. The business's 50 day moving average is $17.59 and its 200-day moving average is $16.53. 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 released its quarterly earnings data on Wednesday, August 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. Plymouth Industrial REIT had a return on equity of 24.24% and a net margin of 67.77%.The company had revenue of $47.20 million for the quarter, compared to analyst estimates of $46.20 million. Equities analysts anticipate that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Dividend Announcement

The business 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 4.3%. The ex-dividend date was Monday, June 30th. Plymouth Industrial REIT's dividend payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PLYM shares. Citizens Jmp downgraded Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Truist Financial boosted their price target on shares of Plymouth Industrial REIT from $18.00 to $21.00 and gave the company 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. JMP Securities reissued a "market perform" rating on shares of Plymouth Industrial REIT in a report on Wednesday, August 20th. Finally, BMO Capital Markets boosted their price target 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. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $20.67.

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.

Want to see what other hedge funds are holding PLYM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plymouth Industrial REIT (NYSE:PLYM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.