Plymouth Industrial REIT, Inc. (NYSE:PLYM) Stock Position Reduced by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 24.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 99,616 shares of the company's stock after selling 32,254 shares during the period. Nuveen Asset Management LLC owned about 0.22% of Plymouth Industrial REIT worth $1,773,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Quadrant Capital Group LLC lifted its position in 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 purchasing an additional 844 shares during the last quarter. Quarry LP lifted its position in Plymouth Industrial REIT by 74.1% in the 4th quarter. Quarry LP now owns 3,191 shares of the company's stock valued at $57,000 after purchasing an additional 1,358 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Plymouth Industrial REIT in the 4th quarter valued at about $148,000. SG Americas Securities LLC lifted its position in Plymouth Industrial REIT by 15.0% in the 4th quarter. SG Americas Securities LLC now owns 10,390 shares of the company's stock valued at $185,000 after purchasing an additional 1,358 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Plymouth Industrial REIT in the 4th quarter valued at about $194,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLYM has been the topic of several recent research reports. Wedbush set a $17.00 price objective on shares of Plymouth Industrial REIT in a research report on Friday, February 28th. Barclays dropped 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 research report on Monday, March 31st. Robert W. Baird dropped their price target on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Truist Financial dropped their price target on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a "hold" rating on the stock in a research report on Monday, March 24th. Finally, KeyCorp dropped their price target on shares of Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $21.10.

Plymouth Industrial REIT Price Performance

Shares of NYSE PLYM traded down $0.21 during midday trading on Thursday, reaching $15.93. The company's stock had a trading volume of 196,845 shares, compared to its average volume of 318,950. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. The company has a 50 day moving average price of $15.30 and a 200 day moving average price of $16.69. Plymouth Industrial REIT, Inc. has a one year low of $12.70 and a one year high of $24.71. The company has a market cap of $725.49 million, a price-to-earnings ratio of 796.40 and a beta of 1.12.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $45.57 million during the quarter, compared to analysts' expectations of $47.69 million. Plymouth Industrial REIT had a return on equity of 0.20% and a net margin of 0.46%. On average, equities research analysts expect 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. Stockholders of record on Monday, March 31st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.03%. The ex-dividend date was Monday, March 31st. Plymouth Industrial REIT's dividend payout ratio (DPR) is currently 31.48%.

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.