MetLife Investment Management LLC Purchases 630,624 Shares of Plymouth Industrial REIT $PLYM

Key Points

• MetLife Investment Management LLC significantly increased its holdings in Plymouth Industrial REIT by 2,406.8%, acquiring an additional 630,624 shares to own approximately 1.44% of the company, valued at $10.7 million.
• As of now, 92.67% of Plymouth Industrial REIT's stock is owned by institutional investors, indicating strong interest from large financial groups.
• Plymouth Industrial REIT's latest quarterly earnings report showed an EPS of $0.46, exceeding estimates, and it recently declared a quarterly dividend of $0.24, reflecting a 4.5% yield.

MetLife Investment Management LLC boosted its position in shares of Plymouth Industrial REIT (NYSE:PLYM - Free Report) by 2,406.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 656,826 shares of the company's stock after purchasing an additional 630,624 shares during the period. MetLife Investment Management LLC owned 1.44% of Plymouth Industrial REIT worth $10,706,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PLYM. Westwood Holdings Group Inc. boosted its position in Plymouth Industrial REIT by 33.0% during the fourth quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company's stock valued at $64,634,000 after purchasing an additional 901,251 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Plymouth Industrial REIT during the fourth quarter valued at $9,612,000. Peregrine Capital Management LLC acquired a new stake in Plymouth Industrial REIT during the first quarter valued at $5,199,000. Heartland Advisors Inc. boosted its position in Plymouth Industrial REIT by 56.7% during the first quarter. Heartland Advisors Inc. now owns 549,900 shares of the company's stock valued at $8,963,000 after purchasing an additional 198,900 shares during the last quarter. Finally, Meros Investment Management LP boosted its position in Plymouth Industrial REIT by 47.7% during the first quarter. Meros Investment Management LP now owns 573,160 shares of the company's stock valued at $9,343,000 after purchasing an additional 185,170 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

Plymouth Industrial REIT Stock Performance

Shares of Plymouth Industrial REIT stock traded up $0.06 during trading on Monday, reaching $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 quick ratio of 0.13 and a current ratio of 0.13. The business's fifty day moving average price is $16.67 and its 200-day moving average price is $16.22. The firm has a market cap of $981.66 million, a price-to-earnings ratio of 7.65 and a beta of 1.17. Plymouth Industrial REIT has a one year low of $12.70 and a one year high of $23.97.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. The business had revenue of $47.20 million for the quarter, compared to analyst estimates of $46.20 million. Plymouth Industrial REIT had a return on equity of 24.24% and a net margin of 67.77%. As a group, equities research 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 declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, June 30th. Plymouth Industrial REIT's payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

PLYM has been the subject of a number of analyst reports. JMP Securities reaffirmed a "market perform" rating on shares of Plymouth Industrial REIT in a research report on Wednesday, August 20th. Truist Financial boosted their price target on Plymouth Industrial REIT from $18.00 to $21.00 and gave the stock a "hold" rating in a research report on Wednesday, August 20th. BMO Capital Markets boosted their price target on Plymouth Industrial REIT from $17.00 to $24.00 and gave the stock a "market perform" rating in a research report on Thursday, August 21st. Wall Street Zen raised Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Robert W. Baird reduced their price target on 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. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus 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.