Silvercrest Asset Management Group LLC Has $37.11 Million Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Silvercrest Asset Management Group LLC trimmed its holdings in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent 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 period. Silvercrest Asset Management Group LLC owned about 4.59% of Plymouth Industrial REIT worth $37,113,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PLYM. Hennion & Walsh Asset Management Inc. grew its stake in Plymouth Industrial REIT by 30.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 11,628 shares of the company's stock worth $207,000 after acquiring an additional 2,697 shares during the period. ZWJ Investment Counsel Inc. purchased a new stake in Plymouth Industrial REIT in the 4th quarter worth approximately $203,000. SG Americas Securities LLC grew its stake in Plymouth Industrial REIT by 15.0% in the 4th quarter. SG Americas Securities LLC now owns 10,390 shares of the company's stock worth $185,000 after acquiring an additional 1,358 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in Plymouth Industrial REIT by 2.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company's stock worth $736,000 after acquiring an additional 952 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in Plymouth Industrial REIT by 4.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 57,243 shares of the company's stock worth $1,015,000 after acquiring an additional 2,408 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLYM has been the topic of a number of research analyst reports. KeyCorp decreased their price target on shares of Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating on the stock in a report 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 on the stock in a report on Thursday, May 8th. Wedbush set a $17.00 price target on shares of Plymouth Industrial REIT in a report on Friday, February 28th. 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 report on Monday, March 24th. Finally, Barclays lowered their price target on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating for the company in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $21.10.

Plymouth Industrial REIT Stock Performance

Plymouth Industrial REIT stock traded down $0.29 during midday trading on Tuesday, reaching $16.17. 191,595 shares of the stock traded hands, compared to its average volume of 316,500. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. The firm has a fifty day moving average price of $15.53 and a two-hundred day moving average price of $16.97. The firm has a market cap of $736.51 million, a price-to-earnings ratio of 808.50 and a beta of 1.11. 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 posted 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). The firm had revenue of $45.57 million for 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, equities research analysts forecast that Plymouth Industrial REIT, Inc. will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend was Monday, March 31st. Plymouth Industrial REIT's dividend payout ratio is currently 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.