Peregrine Capital Management LLC acquired a new stake in Plymouth Industrial REIT (NYSE:PLYM - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 318,980 shares of the company's stock, valued at approximately $5,199,000. Peregrine Capital Management LLC owned 0.70% of Plymouth Industrial REIT as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC increased its holdings in Plymouth Industrial REIT by 6,862.5% in the first quarter. GAMMA Investing LLC now owns 3,342 shares of the company's stock worth $54,000 after buying an additional 3,294 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Plymouth Industrial REIT by 17.3% during the 4th quarter. Legal & General Group Plc now owns 41,472 shares of the company's stock valued at $738,000 after purchasing an additional 6,119 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Plymouth Industrial REIT by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company's stock valued at $406,000 after purchasing an additional 817 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Plymouth Industrial REIT by 1.4% in the 4th quarter. Rhumbline Advisers now owns 73,529 shares of the company's stock valued at $1,309,000 after purchasing an additional 1,010 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Plymouth Industrial REIT by 4.0% in the fourth quarter. Bank of America Corp DE now owns 139,150 shares of the company's stock worth $2,477,000 after purchasing an additional 5,359 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on PLYM. Barclays reduced their price target on Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating for the company in a research report on Monday, March 31st. Truist Financial cut their price objective on Plymouth Industrial REIT from $20.00 to $18.00 and set a "hold" rating on the stock in a research note on Monday, March 24th. Wall Street Zen cut Plymouth Industrial REIT from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Robert W. Baird lowered their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. 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. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $21.10.
Check Out Our Latest Stock Analysis on PLYM
Plymouth Industrial REIT Stock Up 0.2%
Shares of PLYM traded up $0.03 during mid-day trading on Wednesday, hitting $16.28. 64,523 shares of the company's stock were exchanged, compared to its average volume of 334,913. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.27 and a quick ratio of 0.27. Plymouth Industrial REIT has a 52 week low of $12.70 and a 52 week high of $24.71. The company has a market cap of $741.74 million, a PE ratio of 5.35 and a beta of 1.11. The company has a 50-day simple moving average of $15.98 and a 200 day simple moving average of $16.36.
Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last issued its quarterly 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 company had revenue of $45.57 million for the quarter, compared to analyst estimates of $47.69 million. Plymouth Industrial REIT had a net margin of 71.08% and a return on equity of 26.42%. On average, research analysts forecast that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.
Plymouth Industrial REIT Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date is Monday, June 30th. Plymouth Industrial REIT's dividend payout ratio is currently 31.48%.
About Plymouth Industrial REIT
(
Free Report)
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.
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