Meros Investment Management LP Acquires 20,856 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Meros Investment Management LP raised its holdings in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 387,990 shares of the company's stock after acquiring an additional 20,856 shares during the quarter. Plymouth Industrial REIT makes up 3.2% of Meros Investment Management LP's investment portfolio, making the stock its 9th largest position. Meros Investment Management LP owned approximately 0.85% of Plymouth Industrial REIT worth $6,906,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Plymouth Industrial REIT by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company's stock worth $406,000 after acquiring an additional 817 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Plymouth Industrial REIT during the fourth quarter valued at approximately $389,000. Janus Henderson Group PLC lifted its position in Plymouth Industrial REIT by 27.0% during the fourth quarter. Janus Henderson Group PLC now owns 39,397 shares of the company's stock valued at $701,000 after buying an additional 8,375 shares in the last quarter. Graham Capital Management L.P. lifted its position in Plymouth Industrial REIT by 52.0% during the fourth quarter. Graham Capital Management L.P. now owns 18,100 shares of the company's stock valued at $322,000 after buying an additional 6,192 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Plymouth Industrial REIT by 57.1% during the fourth quarter. Deutsche Bank AG now owns 41,261 shares of the company's stock valued at $734,000 after buying an additional 14,995 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Plymouth Industrial REIT Stock Down 0.2%

PLYM traded down $0.03 during trading on Friday, hitting $16.54. The company had a trading volume of 355,265 shares, compared to its average volume of 317,217. The company has a market cap of $753.55 million, a PE ratio of 827.20 and a beta of 1.11. Plymouth Industrial REIT, Inc. has a 1-year low of $12.70 and a 1-year high of $24.71. The business has a 50-day moving average of $15.53 and a 200-day moving average of $17.02. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). Plymouth Industrial REIT had a net margin of 0.46% and a return on equity of 0.20%. The company had revenue of $45.57 million during the quarter, compared to the consensus estimate of $47.69 million. As a group, analysts forecast that Plymouth Industrial REIT, Inc. will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.80%. Plymouth Industrial REIT's dividend payout ratio (DPR) is 31.48%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PLYM. Truist Financial reduced their price target on shares of 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. Barclays dropped their price objective on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Monday, March 31st. Robert W. Baird dropped their price objective on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Wedbush set a $17.00 price objective on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. Finally, KeyCorp dropped their price objective on shares of Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $21.10.

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.