Millennium Management LLC Lowers Stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Millennium Management LLC lowered its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 93.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,487 shares of the company's stock after selling 167,223 shares during the period. Millennium Management LLC's holdings in Plymouth Industrial REIT were worth $222,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Plymouth Industrial REIT by 1.7% in the fourth quarter. JPMorgan Chase & Co. now owns 906,149 shares of the company's stock valued at $16,129,000 after purchasing an additional 15,496 shares during the last quarter. Mesirow Institutional Investment Management Inc. bought a new stake in Plymouth Industrial REIT during the 4th quarter worth approximately $10,433,000. Dimensional Fund Advisors LP raised its position in shares of Plymouth Industrial REIT by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 567,836 shares of the company's stock worth $10,108,000 after buying an additional 9,883 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Plymouth Industrial REIT during the 4th quarter valued at about $9,612,000. Finally, Ameriprise Financial Inc. lifted its position in Plymouth Industrial REIT by 10.8% during the fourth quarter. Ameriprise Financial Inc. now owns 536,689 shares of the company's stock valued at $9,553,000 after purchasing an additional 52,389 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

Plymouth Industrial REIT Stock Performance

Shares of NYSE:PLYM traded up $0.06 during midday trading on Thursday, reaching $16.74. 433,684 shares of the company's stock traded hands, compared to its average volume of 325,395. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market cap of $762.47 million, a price-to-earnings ratio of 837.00 and a beta of 1.12. The stock has a 50 day moving average of $15.36 and a 200 day moving average of $16.61. Plymouth Industrial REIT, Inc. has a one year low of $12.70 and a one year high of $24.71.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). Plymouth Industrial REIT had a return on equity of 0.20% and a net margin of 0.46%. The firm had revenue of $45.57 million during the quarter, compared to analysts' expectations of $47.69 million. As a group, equities research analysts anticipate that Plymouth Industrial REIT, Inc. will post 1.83 EPS for the current fiscal year.

Plymouth Industrial REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 5.73%. Plymouth Industrial REIT's dividend payout ratio is currently 31.48%.

Analyst Ratings Changes

A number of research firms have recently issued reports on PLYM. Robert W. Baird cut their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Wedbush set a $17.00 target price on shares of Plymouth Industrial REIT in a report on Friday, February 28th. Barclays cut their price target on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating on the stock in a report on Monday, March 31st. KeyCorp lowered their target price on Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Truist Financial cut their price objective on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $21.10.

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.