Wellington Management Group LLP Has $8.66 Million Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Wellington Management Group LLP trimmed its holdings in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 63.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 486,681 shares of the company's stock after selling 855,780 shares during the quarter. Wellington Management Group LLP owned 1.07% of Plymouth Industrial REIT worth $8,663,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of PLYM. Westwood Holdings Group Inc. increased its stake in Plymouth Industrial REIT by 33.0% during the 4th quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company's stock worth $64,634,000 after purchasing an additional 901,251 shares in the last quarter. Mesirow Institutional Investment Management Inc. bought a new stake in Plymouth Industrial REIT during the 4th quarter worth approximately $10,433,000. Adage Capital Partners GP L.L.C. bought a new stake in Plymouth Industrial REIT during the 4th quarter worth approximately $9,612,000. Thompson Siegel & Walmsley LLC bought a new stake in Plymouth Industrial REIT during the 4th quarter worth approximately $7,443,000. Finally, Heartland Advisors Inc. increased its stake in Plymouth Industrial REIT by 75.5% during the 4th quarter. Heartland Advisors Inc. now owns 351,000 shares of the company's stock worth $6,248,000 after purchasing an additional 151,000 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PLYM has been the subject of a number of research reports. Barclays lowered their target price on Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating for the company in a research note on Monday, March 31st. Truist Financial decreased their price target on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a "hold" rating for the company in a research note on Monday, March 24th. KeyCorp decreased their price target on shares of Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Robert W. Baird decreased their price target on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Finally, Wedbush set a $17.00 price target on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. One analyst has 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 MarketBeat.com, Plymouth Industrial REIT currently has a consensus rating of "Hold" and a consensus target price of $21.10.

Plymouth Industrial REIT Stock Up 1.9%

Shares of NYSE PLYM traded up $0.30 during trading hours on Friday, hitting $16.22. The company had a trading volume of 217,040 shares, compared to its average volume of 319,807. The stock has a market capitalization of $738.56 million, a P/E ratio of 810.75 and a beta of 1.12. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. Plymouth Industrial REIT, Inc. has a 1-year low of $12.70 and a 1-year high of $24.71. The firm's 50 day moving average is $15.29 and its 200-day moving average is $16.66.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The company had revenue of $45.57 million during the quarter, compared to analyst estimates of $47.69 million. Plymouth Industrial REIT had a net margin of 0.46% and a return on equity of 0.20%. On average, analysts expect that Plymouth Industrial REIT, Inc. 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 was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.92%. The ex-dividend date of this dividend was Monday, March 31st. Plymouth Industrial REIT's payout ratio is presently 31.48%.

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.