Jennison Associates LLC reduced its position in shares of Plymouth Industrial REIT (NYSE:PLYM - Free Report) by 17.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,540,809 shares of the company's stock after selling 767,447 shares during the quarter. Jennison Associates LLC owned 7.77% of Plymouth Industrial REIT worth $57,715,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Pinebridge Investments L.P. grew its stake in shares of Plymouth Industrial REIT by 4.3% during the 4th quarter. Pinebridge Investments L.P. now owns 18,688 shares of the company's stock valued at $333,000 after acquiring an additional 773 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 acquiring an additional 817 shares during the period. Quadrant Capital Group LLC grew its stake 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 acquiring an additional 844 shares during the period. D.A. Davidson & CO. grew its stake in shares of Plymouth Industrial REIT by 1.6% during the 1st quarter. D.A. Davidson & CO. now owns 58,905 shares of the company's stock valued at $960,000 after acquiring an additional 949 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in shares of Plymouth Industrial REIT by 1.5% during the 4th quarter. Meeder Asset Management Inc. now owns 71,087 shares of the company's stock valued at $1,265,000 after acquiring an additional 1,063 shares during the period. 92.67% of the stock is currently owned by institutional investors.
Plymouth Industrial REIT Stock Performance
Shares of Plymouth Industrial REIT stock traded up $0.07 on Friday, reaching $15.46. 329,574 shares of the stock were exchanged, compared to its average volume of 343,562. 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 twelve month low of $12.70 and a twelve month high of $24.71. The firm has a market capitalization of $704.17 million, a price-to-earnings ratio of 5.07 and a beta of 1.11. The business has a 50 day moving average price of $16.21 and a two-hundred day moving average price of $16.19.
Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last released its 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). Plymouth Industrial REIT had a return on equity of 26.42% and a net margin of 71.08%. The firm had revenue of $45.57 million for the quarter, compared to analyst estimates of $47.69 million. Analysts anticipate that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.
Plymouth Industrial REIT Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 6.21%. The ex-dividend date is Monday, June 30th. Plymouth Industrial REIT's payout ratio is 31.48%.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. Barclays decreased their price objective on 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 downgraded Plymouth Industrial REIT from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Wedbush upgraded Plymouth Industrial REIT to a "hold" rating in a research note on Wednesday, July 2nd. KeyCorp reduced their target price on Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Truist Financial cut their price target 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Plymouth Industrial REIT currently has a consensus rating of "Hold" and an average price target of $21.10.
View Our Latest Report on PLYM
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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