Ameriprise Financial Inc. Has $9.55 Million Stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Ameriprise Financial Inc. grew its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 10.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 536,689 shares of the company's stock after acquiring an additional 52,389 shares during the quarter. Ameriprise Financial Inc. owned 1.18% of Plymouth Industrial REIT worth $9,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hennion & Walsh Asset Management Inc. increased its stake in Plymouth Industrial REIT by 30.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 11,628 shares of the company's stock valued at $207,000 after acquiring an additional 2,697 shares during the period. ZWJ Investment Counsel Inc. bought a new stake in shares of Plymouth Industrial REIT during the fourth quarter valued at approximately $203,000. SG Americas Securities LLC raised its stake in shares of Plymouth Industrial REIT by 15.0% in the fourth 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Plymouth Industrial REIT by 2.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company's stock valued at $736,000 after purchasing an additional 952 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Plymouth Industrial REIT by 4.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 57,243 shares of the company's stock worth $1,015,000 after purchasing an additional 2,408 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

Plymouth Industrial REIT Price Performance

PLYM traded down $0.06 during trading on Monday, hitting $15.95. The company's stock had a trading volume of 259,196 shares, compared to its average volume of 319,280. The firm's 50 day moving average price is $15.41 and its two-hundred day moving average price is $16.81. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. Plymouth Industrial REIT, Inc. has a 12 month low of $12.70 and a 12 month high of $24.71. The stock has a market capitalization of $726.26 million, a price-to-earnings ratio of 797.25 and a beta of 1.11.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.44 earnings per share (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 business had revenue of $45.57 million during the quarter, compared to the consensus estimate of $47.69 million. Sell-side analysts forecast that Plymouth Industrial REIT, Inc. will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PLYM shares. Barclays lowered 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 report on Monday, March 31st. Truist Financial dropped their price target on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a "hold" rating for the company in a research report on Monday, March 24th. Wedbush set a $17.00 price objective on Plymouth Industrial REIT in a research note on Friday, February 28th. KeyCorp dropped their target price on Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Robert W. Baird decreased their price target on 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $21.10.

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.