Charles Schwab Investment Management Inc. Has $8.88 Million Stake in 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 disclosure with the SEC. The institutional investor owned 544,819 shares of the company's stock after selling 114,385 shares during the period. 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 bought and sold shares of PLYM. Westwood Holdings Group Inc. boosted its stake in Plymouth Industrial REIT by 24.5% in the first quarter. Westwood Holdings Group Inc. now owns 4,520,361 shares of the company's stock valued at $73,682,000 after acquiring an additional 889,250 shares during the period. PNC Financial Services Group Inc. boosted its stake in Plymouth Industrial REIT by 43.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the company's stock valued at $75,000 after acquiring an additional 1,375 shares during the period. Heartland Advisors Inc. boosted its stake in Plymouth Industrial REIT by 56.7% in the first quarter. Heartland Advisors Inc. now owns 549,900 shares of the company's stock valued at $8,963,000 after acquiring an additional 198,900 shares during the period. Wedbush Securities Inc. boosted its stake in Plymouth Industrial REIT by 49.7% in the first quarter. Wedbush Securities Inc. now owns 20,549 shares of the company's stock valued at $335,000 after acquiring an additional 6,826 shares during the period. Finally, Allianz Asset Management GmbH acquired a new position in Plymouth Industrial REIT in the first quarter valued at approximately $729,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Plymouth Industrial REIT Stock Up 0.3%

Shares of PLYM stock traded up $0.06 on Friday, hitting $22.04. The company's stock had a trading volume of 717,682 shares, compared to its average volume of 1,255,043. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.13 and a quick ratio of 0.13. Plymouth Industrial REIT has a fifty-two week low of $12.70 and a fifty-two week high of $23.97. The firm's fifty day moving average price is $16.56 and its 200-day moving average price is $16.18. The stock has a market capitalization of $981.66 million, a price-to-earnings ratio of 7.65 and a beta of 1.17.

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 (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 business had revenue of $47.20 million during the quarter, compared to analyst estimates of $46.20 million. Research analysts anticipate that Plymouth Industrial REIT will post 1.83 EPS for the current year.

Plymouth Industrial REIT Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Robert W. Baird decreased their target price on 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. Citizens Jmp downgraded Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Wedbush upgraded Plymouth Industrial REIT to a "hold" rating in a research note on Wednesday, July 2nd. Truist Financial lifted their price target on Plymouth Industrial REIT from $18.00 to $21.00 and gave the company a "hold" rating in a report on Wednesday, August 20th. Finally, Wall Street Zen raised Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target 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.