Nuveen Asset Management LLC Reduces Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Nuveen Asset Management LLC reduced its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 24.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,616 shares of the company's stock after selling 32,254 shares during the period. Nuveen Asset Management LLC owned 0.22% of Plymouth Industrial REIT worth $1,773,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PLYM. JPMorgan Chase & Co. grew its holdings in Plymouth Industrial REIT by 1.7% during 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 period. Mesirow Institutional Investment Management Inc. purchased a new position in shares of Plymouth Industrial REIT in the fourth quarter worth about $10,433,000. Dimensional Fund Advisors LP increased its stake 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 purchasing an additional 9,883 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Plymouth Industrial REIT in the fourth quarter worth about $9,612,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Plymouth Industrial REIT by 10.8% in the fourth quarter. Ameriprise Financial Inc. now owns 536,689 shares of the company's stock worth $9,553,000 after purchasing an additional 52,389 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Plymouth Industrial REIT Trading Up 1.9%

Shares of PLYM stock traded up $0.30 on Friday, hitting $16.22. 217,040 shares of the company's stock traded hands, compared to its average volume of 319,807. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. Plymouth Industrial REIT, Inc. has a one year low of $12.70 and a one year high of $24.71. The company's fifty day simple moving average is $15.29 and its 200 day simple moving average is $16.66. The stock has a market capitalization of $738.56 million, a price-to-earnings ratio of 810.75 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 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $45.57 million for the quarter, compared to the consensus estimate of $47.69 million. Plymouth Industrial REIT had a net margin of 0.46% and a return on equity of 0.20%. Equities analysts forecast that Plymouth Industrial REIT, Inc. will post 1.83 EPS for the current year.

Plymouth Industrial REIT Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date was Monday, March 31st. Plymouth Industrial REIT's dividend payout ratio (DPR) is presently 31.48%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PLYM shares. Wedbush set a $17.00 target price on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. KeyCorp reduced their price objective 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. Barclays reduced their price objective 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. Robert W. Baird reduced their price objective 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, Truist Financial reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Plymouth Industrial REIT currently has a consensus rating of "Hold" and an average 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.