Plymouth Industrial REIT (NYSE:PLYM) is Meros Investment Management LP's 3rd Largest Position

Key Points

• Meros Investment Management LP increased its stake in Plymouth Industrial REIT by 47.7% in Q1, now making it their third largest position at $9.34 million.
• Plymouth Industrial REIT recently reported $0.46 earnings per share (EPS) for the last quarter, surpassing expectations of $0.43 EPS.
• The firm declared a quarterly dividend of $0.24, representing an annualized yield of 6.4% with a payout ratio of 33.33%.

Meros Investment Management LP boosted its stake in Plymouth Industrial REIT (NYSE:PLYM - Free Report) by 47.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 573,160 shares of the company's stock after buying an additional 185,170 shares during the period. Plymouth Industrial REIT accounts for approximately 5.5% of Meros Investment Management LP's portfolio, making the stock its 3rd largest position. Meros Investment Management LP owned 1.26% of Plymouth Industrial REIT worth $9,343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PLYM. Quarry LP grew its holdings in Plymouth Industrial REIT by 74.1% in the fourth quarter. Quarry LP now owns 3,191 shares of the company's stock worth $57,000 after purchasing an additional 1,358 shares during the period. GAMMA Investing LLC grew 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 purchasing an additional 3,294 shares during the period. Copeland Capital Management LLC grew its holdings in Plymouth Industrial REIT by 79.9% in the first quarter. Copeland Capital Management LLC now owns 3,509 shares of the company's stock worth $57,000 after purchasing an additional 1,558 shares during the period. New York State Teachers Retirement System purchased a new stake in shares of Plymouth Industrial REIT during the first quarter valued at approximately $60,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Plymouth Industrial REIT by 43.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the company's stock valued at $75,000 after buying an additional 1,375 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Plymouth Industrial REIT Trading Up 0.5%

Shares of PLYM stock opened at $14.97 on Friday. Plymouth Industrial REIT has a 12-month low of $12.70 and a 12-month high of $24.70. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.15. The firm's 50 day moving average is $15.70 and its 200 day moving average is $15.90. The stock has a market capitalization of $666.91 million, a P/E ratio of 5.20 and a beta of 1.11.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. Plymouth Industrial REIT had a net margin of 67.77% and a return on equity of 24.24%. The company had revenue of $47.20 million for the quarter, compared to analysts' expectations of $46.20 million. Research analysts expect that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were given a $0.24 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.96 annualized dividend and a yield of 6.4%. Plymouth Industrial REIT's dividend payout ratio (DPR) is presently 33.33%.

Analyst Upgrades and Downgrades

PLYM has been the subject of several analyst reports. Wedbush raised shares of Plymouth Industrial REIT to a "hold" rating in a research report on Wednesday, July 2nd. 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, Wall Street Zen raised Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Plymouth Industrial REIT presently has an average rating of "Hold" and a consensus target price of $20.44.

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.

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