Tower Research Capital LLC TRC Acquires 7,135 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Tower Research Capital LLC TRC increased its holdings in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 86.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,418 shares of the company’s stock after purchasing an additional 7,135 shares during the period. Tower Research Capital LLC TRC’s holdings in Plymouth Industrial REIT were worth $274,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PLYM. Quadrant Capital Group LLC lifted its holdings 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 purchasing an additional 844 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Plymouth Industrial REIT during the 4th quarter worth approximately $148,000. SG Americas Securities LLC raised its holdings in shares of Plymouth Industrial REIT by 15.0% in the fourth quarter. SG Americas Securities LLC now owns 10,390 shares of the company’s stock valued at $185,000 after purchasing an additional 1,358 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Plymouth Industrial REIT in the fourth quarter worth $194,000. Finally, ZWJ Investment Counsel Inc. bought a new stake in Plymouth Industrial REIT during the 4th quarter worth about $203,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Plymouth Industrial REIT Stock Up 2.6 %

PLYM stock opened at $15.37 on Friday. Plymouth Industrial REIT, Inc. has a fifty-two week low of $12.70 and a fifty-two week high of $24.71. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market capitalization of $700.12 million, a price-to-earnings ratio of 768.50 and a beta of 1.19. The business’s fifty day moving average price is $15.75 and its two-hundred day moving average price is $17.37.

Plymouth Industrial REIT (NYSE:PLYM) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The business had revenue of $45.57 million for 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 anticipate 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. Investors of record on Monday, March 31st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.25%. The ex-dividend date was Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 31.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PLYM shares. Wedbush set a $17.00 price objective on Plymouth Industrial REIT in a report on Friday, February 28th. KeyCorp lowered 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. Robert W. Baird dropped their price objective on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Truist Financial reduced their target price on 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. Finally, Barclays dropped 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 note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Plymouth Industrial REIT has an average rating of “Hold” and an average target price of $21.20.

About Plymouth Industrial REIT

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.