Plymouth Industrial REIT $PLYM Shares Sold by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC reduced its stake in Plymouth Industrial REIT by 24.7% during the first quarter, now holding approximately 81,073 shares valued at about $1.32 million.
• A recent quarterly dividend of $0.24 per share will be paid on October 31st, representing an annualized yield of 4.4%.
• Barclays raised the price target on PLYM shares from $18.00 to $24.00, reflecting a positive outlook amid analysts’ mixed ratings that include two "Buy" and seven "Hold" ratings.

Voya Investment Management LLC lessened its position in Plymouth Industrial REIT (NYSE:PLYM - Free Report) by 24.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,073 shares of the company's stock after selling 26,618 shares during the period. Voya Investment Management LLC owned about 0.18% of Plymouth Industrial REIT worth $1,321,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. BROOKFIELD Corp ON acquired a new position in shares of Plymouth Industrial REIT in the first quarter valued at approximately $3,894,000. Strs Ohio acquired a new position in Plymouth Industrial REIT during the first quarter worth approximately $6,652,000. Focus Partners Wealth increased its position in Plymouth Industrial REIT by 213.1% during the first quarter. Focus Partners Wealth now owns 55,075 shares of the company's stock worth $898,000 after purchasing an additional 37,484 shares during the last quarter. Jane Street Group LLC acquired a new position in Plymouth Industrial REIT during the first quarter worth approximately $460,000. Finally, Dynamic Technology Lab Private Ltd increased its position in Plymouth Industrial REIT by 25.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 25,288 shares of the company's stock worth $412,000 after purchasing an additional 5,091 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

Plymouth Industrial REIT Price Performance

Shares of PLYM stock opened at $21.58 on Tuesday. The company has a market capitalization of $961.39 million, a PE ratio of 7.49 and a beta of 1.17. The firm has a fifty day simple moving average of $18.41 and a 200-day simple moving average of $16.76. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.15. Plymouth Industrial REIT has a twelve month low of $12.70 and a twelve month high of $23.06.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $47.20 million for the quarter, compared to the consensus estimate of $46.20 million. Equities research analysts anticipate that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Tuesday, September 30th. Plymouth Industrial REIT's dividend payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PLYM shares. Barclays upped their price target on shares of Plymouth Industrial REIT from $18.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, September 15th. Citizens Jmp lowered shares of Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Wedbush raised shares of Plymouth Industrial REIT to a "hold" rating in a research report on Wednesday, July 2nd. JMP Securities reaffirmed a "market perform" rating on shares of Plymouth Industrial REIT in a research report on Wednesday, August 20th. Finally, Truist Financial upped their price target on shares of Plymouth Industrial REIT from $18.00 to $21.00 and gave the stock a "hold" rating in a research report on Wednesday, August 20th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $21.33.

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.

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