Vanguard Group Inc. Sells 67,280 Shares of Plymouth Industrial REIT $PLYM

Key Points

• Vanguard Group Inc. reduced its holdings in Plymouth Industrial REIT by 1.6%, owning approximately 4.18 million shares worth $68.14 million after selling 67,280 shares in Q1.
• The company also reported earnings of $0.46 per share, exceeding analysts' expectations of $0.43, with revenues of $47.2 million for the quarter.
• Plymouth Industrial REIT announced a quarterly dividend of $0.24 per share, representing an annualized dividend yield of 4.5%.

Vanguard Group Inc. lowered its stake in Plymouth Industrial REIT (NYSE:PLYM - Free Report) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,180,333 shares of the company's stock after selling 67,280 shares during the quarter. Vanguard Group Inc. owned 9.18% of Plymouth Industrial REIT worth $68,139,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Plymouth Industrial REIT by 6,862.5% in the 1st quarter. GAMMA Investing LLC now owns 3,342 shares of the company's stock valued at $54,000 after acquiring an additional 3,294 shares in the last quarter. Quarry LP increased its stake in shares of Plymouth Industrial REIT by 74.1% in the 4th quarter. Quarry LP now owns 3,191 shares of the company's stock valued at $57,000 after acquiring an additional 1,358 shares in the last quarter. Copeland Capital Management LLC increased its stake in shares of Plymouth Industrial REIT by 79.9% in the 1st quarter. Copeland Capital Management LLC now owns 3,509 shares of the company's stock valued at $57,000 after acquiring an additional 1,558 shares in the last quarter. New York State Teachers Retirement System bought a new stake in shares of Plymouth Industrial REIT in the 1st quarter valued at $60,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Plymouth Industrial REIT by 43.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the company's stock valued at $75,000 after acquiring an additional 1,375 shares in the last quarter. Institutional investors own 92.67% of the company's stock.

Plymouth Industrial REIT Stock Performance

PLYM traded up $0.06 during trading on Friday, hitting $22.04. 717,682 shares of the company traded hands, compared to its average volume of 1,242,560. The firm has a market cap of $981.66 million, a P/E ratio of 7.65 and a beta of 1.11. The stock's fifty day moving average is $16.56 and its 200 day moving average is $16.18. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.15. Plymouth Industrial REIT has a one year low of $12.70 and a one year high of $23.97.

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

Plymouth Industrial REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were paid a $0.24 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.96 annualized dividend and a yield of 4.4%. Plymouth Industrial REIT's dividend payout ratio (DPR) is currently 33.33%.

Wall Street Analysts Forecast Growth

PLYM has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Citizens Jmp cut Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Robert W. Baird cut 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. BMO Capital Markets increased 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, JMP Securities reiterated a "market perform" rating on shares of Plymouth Industrial REIT in a 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Plymouth Industrial REIT presently has a consensus rating of "Hold" and an average price target of $20.67.

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.