Charles Schwab Investment Management Inc. Sells 114,385 Shares of Plymouth Industrial REIT $PLYM

Key Points

• Charles Schwab Investment Management Inc. has reduced its holdings in Plymouth Industrial REIT by 17.4%, selling 114,385 shares and now owning approximately 1.20% of the company.
• Several hedge funds have increased their stakes in Plymouth Industrial REIT, with Westwood Holdings Group increasing its position by 33.0% in the fourth quarter.
• Plymouth Industrial REIT announced a quarterly dividend of $0.24 per share, providing an annualized yield of 4.5% based on the current payout ratio of 33.33%.

Charles Schwab Investment Management Inc. trimmed its position in Plymouth Industrial REIT (NYSE:PLYM - Free Report) by 17.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 544,819 shares of the company's stock after selling 114,385 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.20% of Plymouth Industrial REIT worth $8,881,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC boosted 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 worth $54,000 after buying an additional 3,294 shares during the last quarter. Quarry LP grew its holdings 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 worth $57,000 after buying an additional 1,358 shares in the last quarter. Copeland Capital Management LLC grew its stake 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 worth $57,000 after acquiring an additional 1,558 shares in the last quarter. New York State Teachers Retirement System bought a new stake in Plymouth Industrial REIT during the 1st quarter worth about $60,000. Finally, PNC Financial Services Group Inc. boosted its position in Plymouth Industrial REIT by 43.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the company's stock valued at $75,000 after purchasing an additional 1,375 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Plymouth Industrial REIT Stock Performance

NYSE:PLYM traded up $0.06 on Friday, reaching $22.04. 717,682 shares of the company's stock were exchanged, compared to its average volume of 473,896. Plymouth Industrial REIT has a 52 week low of $12.70 and a 52 week high of $23.97. The stock has a fifty day simple moving average of $16.45 and a 200-day simple moving average of $16.14. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $981.75 million, a price-to-earnings ratio of 7.65 and a beta of 1.11.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.46 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $47.20 million during the quarter, compared to the consensus estimate of $46.20 million. As a group, sell-side analysts predict that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were given a $0.24 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.4%. Plymouth Industrial REIT's payout ratio is presently 33.33%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Robert W. Baird reduced their price objective on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. JMP Securities reiterated a "market perform" rating on shares of Plymouth Industrial REIT in a research note on Wednesday, August 20th. Citizens Jmp downgraded shares of Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Wedbush upgraded shares of Plymouth Industrial REIT to a "hold" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen raised Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Plymouth Industrial REIT has an average rating of "Hold" and a consensus target price of $20.67.

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.