Northern Trust Corp Purchases 58,132 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Northern Trust Corp increased its holdings in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 15.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 424,744 shares of the company's stock after purchasing an additional 58,132 shares during the quarter. Northern Trust Corp owned approximately 0.94% of Plymouth Industrial REIT worth $7,560,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its position in shares of Plymouth Industrial REIT by 38.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company's stock valued at $54,000 after acquiring an additional 844 shares during the period. Quarry LP lifted its stake in shares of Plymouth Industrial REIT by 74.1% during the 4th quarter. Quarry LP now owns 3,191 shares of the company's stock worth $57,000 after buying an additional 1,358 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Plymouth Industrial REIT during the 4th quarter worth about $148,000. SG Americas Securities LLC lifted its stake in shares of Plymouth Industrial REIT by 15.0% during the 4th quarter. SG Americas Securities LLC now owns 10,390 shares of the company's stock worth $185,000 after buying an additional 1,358 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Plymouth Industrial REIT during the 4th quarter worth about $194,000. Institutional investors and hedge funds own 92.67% of the company's stock.

Plymouth Industrial REIT Price Performance

PLYM stock traded down $0.06 during mid-day trading on Friday, hitting $15.95. The stock had a trading volume of 259,196 shares, compared to its average volume of 319,280. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. Plymouth Industrial REIT, Inc. has a 52 week low of $12.70 and a 52 week high of $24.71. The firm has a market capitalization of $726.26 million, a P/E ratio of 797.25 and a beta of 1.11. The firm has a fifty day simple moving average of $15.44 and a 200 day simple moving average of $16.87.

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

Plymouth Industrial REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 6.02%. The ex-dividend date was Monday, March 31st. Plymouth Industrial REIT's dividend payout ratio is currently 31.48%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial cut their target price on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a "hold" rating for the company in a research note on Monday, March 24th. Barclays cut their target price on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating for the company in a research note on Monday, March 31st. KeyCorp cut their target price on shares of 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. Robert W. Baird cut their target price on shares of 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. Finally, Wedbush set a $17.00 price objective on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Plymouth Industrial REIT has an average rating of "Hold" and a consensus price target of $21.10.

Plymouth Industrial REIT Company Profile

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.