State of New Jersey Common Pension Fund D Has $3.45 Million Holdings in Plymouth Industrial REIT $PLYM

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Plymouth Industrial REIT by 14.0%, owning approximately 0.47% of the company after selling 34,593 shares.
• Several institutional investors increased their holdings, with Wells Fargo raising its stake by 20.5% and Invesco growing its position by 120.6% during the previous quarter.
• Plymouth Industrial REIT reported earnings of $0.46 per share for the last quarter, exceeding expectations and reflecting a revenue of $47.20 million, along with a recent quarterly dividend yield of 4.6%.

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Plymouth Industrial REIT (NYSE:PLYM - Free Report) by 14.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 211,811 shares of the company's stock after selling 34,593 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.47% of Plymouth Industrial REIT worth $3,453,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Pinebridge Investments L.P. increased its holdings in shares of Plymouth Industrial REIT by 4.3% during the fourth quarter. Pinebridge Investments L.P. now owns 18,688 shares of the company's stock valued at $333,000 after purchasing an additional 773 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Plymouth Industrial REIT by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company's stock valued at $406,000 after purchasing an additional 817 shares during the period. D.A. Davidson & CO. increased its holdings in shares of Plymouth Industrial REIT by 1.6% during the first quarter. D.A. Davidson & CO. now owns 58,905 shares of the company's stock valued at $960,000 after purchasing an additional 949 shares during the period. Two Sigma Advisers LP grew its holdings in Plymouth Industrial REIT by 0.6% during the fourth quarter. Two Sigma Advisers LP now owns 185,700 shares of the company's stock worth $3,305,000 after acquiring an additional 1,100 shares during the period. Finally, Quarry LP grew its holdings in Plymouth Industrial REIT by 74.1% during the fourth quarter. Quarry LP now owns 3,191 shares of the company's stock worth $57,000 after acquiring an additional 1,358 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JMP Securities reaffirmed a "market perform" rating on shares of Plymouth Industrial REIT in a report on Wednesday, August 20th. Robert W. Baird lowered their target price 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. Citizens Jmp lowered Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. BMO Capital Markets lifted their target price on Plymouth Industrial REIT from $17.00 to $24.00 and gave the stock a "market perform" rating in a report on Thursday, August 21st. Finally, Wall Street Zen raised Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $20.67.

Plymouth Industrial REIT Trading Up 1.8%

Shares of NYSE:PLYM traded up $0.38 during midday trading on Tuesday, reaching $21.48. The company had a trading volume of 1,987,206 shares, compared to its average volume of 1,091,625. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.13 and a current ratio of 0.13. Plymouth Industrial REIT has a 1-year low of $12.70 and a 1-year high of $24.70. The firm has a market cap of $956.71 million, a price-to-earnings ratio of 7.46 and a beta of 1.11. The company has a fifty day simple moving average of $16.23 and a two-hundred day simple moving average of $16.07.

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

Plymouth Industrial REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were given a dividend of $0.24 per share. The ex-dividend date was Monday, June 30th. This represents a $0.96 dividend on an annualized basis and a yield of 4.5%. Plymouth Industrial REIT's dividend payout ratio (DPR) is presently 33.33%.

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.