Great Lakes Advisors LLC Cuts Holdings in Plymouth Industrial REIT $PLYM

Key Points

• Great Lakes Advisors LLC reduced its stake in Plymouth Industrial REIT by 15.7%, holding approximately $3.12 million worth of shares after selling 35,682 shares.
• Plymouth Industrial REIT reported earnings per share of $0.46 for the last quarter, exceeding analysts' expectations of $0.43, and achieved a net margin of 67.77%.
• The company declared a quarterly dividend of $0.24 per share, resulting in an annualized yield of 4.3% and a dividend payout ratio of 33.33%.

Great Lakes Advisors LLC lessened its holdings in Plymouth Industrial REIT (NYSE:PLYM - Free Report) by 15.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,280 shares of the company's stock after selling 35,682 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.42% of Plymouth Industrial REIT worth $3,118,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Plymouth Industrial REIT by 3.7% in the 4th 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 last quarter. D.A. Davidson & CO. raised its holdings in Plymouth Industrial REIT by 1.6% in the 1st quarter. D.A. Davidson & CO. now owns 58,905 shares of the company's stock valued at $960,000 after buying an additional 949 shares during the last quarter. Two Sigma Advisers LP raised its holdings in Plymouth Industrial REIT by 0.6% during the 4th quarter. Two Sigma Advisers LP now owns 185,700 shares of the company's stock worth $3,305,000 after purchasing an additional 1,100 shares during the last quarter. Resona Asset Management Co. Ltd. raised its holdings in Plymouth Industrial REIT by 8.7% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 17,168 shares of the company's stock worth $288,000 after purchasing an additional 1,370 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Plymouth Industrial REIT by 43.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the company's stock worth $75,000 after purchasing an additional 1,375 shares during the last quarter. Institutional investors own 92.67% of the company's stock.

Plymouth Industrial REIT Stock Down 0.3%

NYSE PLYM traded down $0.08 during mid-day trading on Tuesday, hitting $21.93. The company's stock had a trading volume of 190,748 shares, compared to its average volume of 489,919. The company's 50 day simple moving average is $17.83 and its 200 day simple moving average is $16.60. 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. The firm has a market capitalization of $976.85 million, a price-to-earnings ratio of 7.61 and a beta of 1.17.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last posted its quarterly earnings results 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 the consensus estimate of $46.20 million. Analysts anticipate that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.96 annualized dividend and a yield of 4.4%. Plymouth Industrial REIT's dividend payout ratio (DPR) is presently 33.33%.

Analyst Ratings Changes

PLYM has been the subject of several analyst reports. Barclays raised their price target on shares of Plymouth Industrial REIT from $18.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday. BMO Capital Markets raised their price target on shares of Plymouth Industrial REIT from $17.00 to $24.00 and gave the stock a "market perform" rating in a report on Thursday, August 21st. Wall Street Zen upgraded shares of Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Citizens Jmp lowered shares of Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Finally, Wedbush upgraded shares of Plymouth Industrial REIT to a "hold" rating in a report on Wednesday, July 2nd. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $21.33.

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.