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

Silvercrest Asset Management Group LLC cut its holdings in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 9.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,085,008 shares of the company’s stock after selling 230,028 shares during the period. Silvercrest Asset Management Group LLC owned approximately 4.59% of Plymouth Industrial REIT worth $37,113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PLYM. Legal & General Group Plc raised its holdings in Plymouth Industrial REIT by 17.3% during the fourth quarter. Legal & General Group Plc now owns 41,472 shares of the company’s stock worth $738,000 after purchasing an additional 6,119 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Plymouth Industrial REIT by 30.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 11,628 shares of the company’s stock worth $207,000 after purchasing an additional 2,697 shares in the last quarter. Rhumbline Advisers raised its holdings in Plymouth Industrial REIT by 1.4% during the fourth quarter. Rhumbline Advisers now owns 73,529 shares of the company’s stock worth $1,309,000 after purchasing an additional 1,010 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Plymouth Industrial REIT by 4.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 57,243 shares of the company’s stock worth $1,015,000 after purchasing an additional 2,408 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Plymouth Industrial REIT by 2.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company’s stock worth $736,000 after purchasing an additional 952 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLYM has been the topic of several recent analyst reports. Robert W. Baird dropped their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Thursday, May 8th. 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 report on Monday, March 31st. Truist Financial dropped their price target on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Monday, March 24th. Wedbush set a $17.00 price target on Plymouth Industrial REIT in a report on Friday, February 28th. Finally, KeyCorp dropped their price target on Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.10.

Plymouth Industrial REIT Trading Down 0.2%

Shares of NYSE:PLYM opened at $16.54 on Friday. The stock has a market capitalization 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 firm has a fifty day moving average price of $15.53 and a 200 day moving average price of $17.05. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42.

Plymouth Industrial REIT (NYSE:PLYM) last issued its quarterly earnings data 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 business had revenue of $45.57 million during 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%. Analysts expect that Plymouth Industrial REIT, Inc. will post 1.83 EPS for the current fiscal year.

Plymouth Industrial REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend was Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio is presently 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.