Plymouth Industrial REIT, Inc. (NYSE:PLYM) Shares Bought by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. raised its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 33.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,631,111 shares of the company's stock after purchasing an additional 901,251 shares during the period. Westwood Holdings Group Inc. owned about 8.00% of Plymouth Industrial REIT worth $64,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in PLYM. Legal & General Group Plc lifted its stake in Plymouth Industrial REIT by 17.3% during the fourth quarter. Legal & General Group Plc now owns 41,472 shares of the company's stock worth $738,000 after purchasing an additional 6,119 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Plymouth Industrial REIT by 30.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 11,628 shares of the company's stock worth $207,000 after purchasing an additional 2,697 shares during the last quarter. Rhumbline Advisers lifted its stake in Plymouth Industrial REIT by 1.4% during the fourth quarter. Rhumbline Advisers now owns 73,529 shares of the company's stock worth $1,309,000 after purchasing an additional 1,010 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in Plymouth Industrial REIT by 4.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 57,243 shares of the company's stock worth $1,015,000 after purchasing an additional 2,408 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Plymouth Industrial REIT by 2.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company's stock worth $736,000 after purchasing an additional 952 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

Plymouth Industrial REIT Stock Performance

Shares of PLYM traded up $0.27 during mid-day trading on Thursday, hitting $16.02. The stock had a trading volume of 399,964 shares, compared to its average volume of 318,194. The company has a market cap of $729.82 million, a PE ratio of 801.15 and a beta of 1.11. The company's fifty day simple moving average is $15.49 and its two-hundred day simple moving average is $16.96. 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 fifty-two week low of $12.70 and a fifty-two week high of $24.71.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.44 earnings per share (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 the consensus estimate of $47.69 million. Plymouth Industrial REIT had a return on equity of 0.20% and a net margin of 0.46%. On average, equities analysts expect that Plymouth Industrial REIT, Inc. will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.99%. The ex-dividend date was Monday, March 31st. Plymouth Industrial REIT's payout ratio is currently 31.48%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PLYM shares. Robert W. Baird decreased their target price on 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. 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 report on Monday, March 24th. Wedbush set a $17.00 price target on Plymouth Industrial REIT in a research report on Friday, February 28th. Barclays cut their price target on Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Monday, March 31st. Finally, KeyCorp cut their price target on Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $21.10.

Plymouth Industrial REIT 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.