Plymouth Industrial REIT $PLYM Stock Holdings Raised by D.A. Davidson & CO.

D.A. Davidson & CO. raised its stake in Plymouth Industrial REIT (NYSE:PLYM) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 59,937 shares of the company’s stock after acquiring an additional 1,032 shares during the period. D.A. Davidson & CO.’s holdings in Plymouth Industrial REIT were worth $963,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC increased its position in shares of Plymouth Industrial REIT by 136.1% in the 2nd quarter. Parallel Advisors LLC now owns 1,594 shares of the company’s stock worth $26,000 after purchasing an additional 919 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of Plymouth Industrial REIT in the 1st quarter worth about $60,000. PNC Financial Services Group Inc. grew its position in shares of Plymouth Industrial REIT by 43.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the company’s stock valued at $75,000 after buying an additional 1,375 shares during the last quarter. Signaturefd LLC grew its position in shares of Plymouth Industrial REIT by 181.8% during the 1st quarter. Signaturefd LLC now owns 4,946 shares of the company’s stock valued at $81,000 after buying an additional 3,191 shares during the last quarter. Finally, Crossingbridge Advisors LLC bought a new stake in shares of Plymouth Industrial REIT during the 1st quarter valued at about $82,000. Institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

PLYM has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, October 8th. Baird R W downgraded shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Robert W. Baird downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $19.00 to $24.00 in a research report on Thursday, October 23rd. Wedbush raised shares of Plymouth Industrial REIT to a “hold” rating in a research report on Wednesday, July 2nd. Finally, Barclays lowered their price objective on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $21.55.

Plymouth Industrial REIT Trading Down 0.8%

Shares of NYSE:PLYM opened at $21.90 on Tuesday. The company has a 50 day moving average of $21.86 and a 200-day moving average of $17.77. The firm has a market cap of $975.56 million, a P/E ratio of 7.60 and a beta of 1.16. Plymouth Industrial REIT has a twelve month low of $12.70 and a twelve month high of $22.65. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.15.

Plymouth Industrial REIT (NYSE:PLYM) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $47.20 million during the quarter, compared to analyst estimates of $46.20 million. Plymouth Industrial REIT had a net margin of 67.77% and a return on equity of 24.24%. As a group, analysts anticipate that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.96 annualized dividend and a yield of 4.4%. Plymouth Industrial REIT’s dividend payout ratio is currently 33.33%.

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.