Madison International Realty Holdings LLC decreased its holdings in Plymouth Industrial REIT (NYSE:PLYM - Free Report) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,121,393 shares of the company's stock after selling 160,273 shares during the period. Plymouth Industrial REIT comprises about 39.4% of Madison International Realty Holdings LLC's investment portfolio, making the stock its 2nd biggest holding. Madison International Realty Holdings LLC owned 9.05% of Plymouth Industrial REIT worth $67,179,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC lifted its holdings in shares of Plymouth Industrial REIT by 38.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company's stock valued at $54,000 after buying an additional 844 shares during the period. GAMMA Investing LLC boosted its holdings in shares of 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. Quarry LP boosted its holdings in shares of 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 buying an additional 1,358 shares during the last quarter. Copeland Capital Management LLC boosted its holdings in shares of 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 buying an additional 1,558 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new position in shares of Plymouth Industrial REIT in the first quarter worth approximately $60,000. Hedge funds and other institutional investors own 92.67% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the stock. Barclays dropped their price objective 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. Wall Street Zen cut Plymouth Industrial REIT from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Wedbush raised Plymouth Industrial REIT to a "hold" rating in a report on Wednesday, July 2nd. KeyCorp decreased their target price on Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Truist Financial decreased their target price on Plymouth Industrial REIT from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Plymouth Industrial REIT currently has an average rating of "Hold" and an average target price of $21.10.
View Our Latest Report on Plymouth Industrial REIT
Plymouth Industrial REIT Price Performance
NYSE:PLYM traded up $0.25 on Tuesday, reaching $15.77. 287,375 shares of the company's stock traded hands, compared to its average volume of 342,747. The firm has a market cap of $718.29 million, a PE ratio of 5.17 and a beta of 1.11. The stock has a 50-day simple moving average of $16.21 and a 200-day simple moving average of $16.17. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.08. Plymouth Industrial REIT has a 12 month low of $12.70 and a 12 month high of $24.71.
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 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 analysts' expectations of $47.69 million. Plymouth Industrial REIT had a net margin of 71.08% and a return on equity of 26.42%. Equities research analysts forecast that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.
Plymouth Industrial REIT Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.96 annualized dividend and a yield of 6.09%. Plymouth Industrial REIT's dividend payout ratio is currently 31.48%.
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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