Plymouth Industrial REIT, Inc. (NYSE:PLYM) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC reduced its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,085,008 shares of the company's stock after selling 230,028 shares during the quarter. Silvercrest Asset Management Group LLC owned approximately 4.59% of Plymouth Industrial REIT worth $37,113,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC raised its stake in shares of Plymouth Industrial REIT by 38.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company's stock valued at $54,000 after acquiring an additional 844 shares in the last quarter. Quarry LP increased its holdings in Plymouth Industrial REIT by 74.1% during the 4th quarter. Quarry LP now owns 3,191 shares of the company's stock worth $57,000 after purchasing an additional 1,358 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Plymouth Industrial REIT in the 4th quarter valued at about $148,000. SG Americas Securities LLC boosted its stake in shares of Plymouth Industrial REIT by 15.0% in the 4th quarter. SG Americas Securities LLC now owns 10,390 shares of the company's stock valued at $185,000 after buying an additional 1,358 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Plymouth Industrial REIT during the fourth quarter worth about $194,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wedbush set a $17.00 price target on shares of Plymouth Industrial REIT in a report on Friday, February 28th. Barclays lowered their target price on shares of 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 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 note on Monday, March 24th. KeyCorp lowered their price objective on Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Plymouth Industrial REIT currently has an average rating of "Hold" and an average price target of $21.10.

Plymouth Industrial REIT Stock Performance

Shares of NYSE PLYM remained flat at $15.75 during trading hours on Thursday. The company had a trading volume of 61,319 shares, compared to its average volume of 316,232. The business's fifty day simple moving average is $15.49 and its 200-day simple moving average is $16.96. The stock has a market capitalization of $717.38 million, a price-to-earnings ratio of 786.75 and a beta of 1.11. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. Plymouth Industrial REIT, Inc. has a 1 year low of $12.70 and a 1 year high of $24.71.

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

Plymouth Industrial REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date was Monday, March 31st. Plymouth Industrial REIT's dividend payout ratio is currently 31.48%.

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.