Peregrine Capital Management LLC purchased a new stake in Plymouth Industrial REIT (NYSE:PLYM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 318,980 shares of the company's stock, valued at approximately $5,199,000. Peregrine Capital Management LLC owned approximately 0.70% of Plymouth Industrial REIT as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Westwood Holdings Group Inc. increased its holdings in Plymouth Industrial REIT by 33.0% in the 4th quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company's stock valued at $64,634,000 after buying an additional 901,251 shares during the period. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Plymouth Industrial REIT during the fourth quarter valued at about $10,433,000. Adage Capital Partners GP L.L.C. acquired a new stake in Plymouth Industrial REIT during the 4th quarter worth approximately $9,612,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of Plymouth Industrial REIT in the fourth quarter worth $7,443,000. Finally, Heartland Advisors Inc. grew its position in shares of Plymouth Industrial REIT by 75.5% in the 4th quarter. Heartland Advisors Inc. now owns 351,000 shares of the company's stock valued at $6,248,000 after buying an additional 151,000 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.
Plymouth Industrial REIT Price Performance
NYSE PLYM traded up $0.11 during trading on Friday, reaching $16.35. The company's stock had a trading volume of 257,370 shares, compared to its average volume of 337,662. Plymouth Industrial REIT has a one year low of $12.70 and a one year high of $24.71. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market capitalization of $744.74 million, a PE ratio of 5.36 and a beta of 1.11. The firm has a fifty day moving average of $16.08 and a 200 day moving average of $16.33.
Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). The firm 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 71.08% and a return on equity of 26.42%. Analysts expect that Plymouth Industrial REIT will post 1.83 EPS for the current fiscal year.
Plymouth Industrial REIT Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date of this dividend is Monday, June 30th. Plymouth Industrial REIT's payout ratio is currently 31.48%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on PLYM shares. Wall Street Zen cut shares of Plymouth Industrial REIT from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Robert W. Baird dropped their price objective on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Barclays cut their target price on 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. 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 report on Tuesday, April 8th. Finally, Wedbush raised Plymouth Industrial REIT to a "hold" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Plymouth Industrial REIT has an average rating of "Hold" and an average target price of $21.10.
Check Out Our Latest Stock Report on Plymouth Industrial REIT
Plymouth Industrial REIT Profile
(
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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