Plymouth Industrial REIT $PLYM Shares Acquired by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. increased its position in shares of Plymouth Industrial REIT (NYSE:PLYM) by 24.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,184 shares of the company’s stock after purchasing an additional 2,774 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Plymouth Industrial REIT were worth $228,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLYM. Parallel Advisors LLC lifted its holdings in shares of Plymouth Industrial REIT by 136.1% during the second 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 period. GAMMA Investing LLC lifted its holdings in shares of Plymouth Industrial REIT by 6,862.5% during the first quarter. GAMMA Investing LLC now owns 3,342 shares of the company’s stock worth $54,000 after purchasing an additional 3,294 shares during the period. Copeland Capital Management LLC lifted its holdings in shares of Plymouth Industrial REIT by 79.9% during the first quarter. Copeland Capital Management LLC now owns 3,509 shares of the company’s stock worth $57,000 after purchasing an additional 1,558 shares during the period. New York State Teachers Retirement System acquired a new stake in shares of Plymouth Industrial REIT during the first quarter worth about $60,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Plymouth Industrial REIT by 43.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the company’s stock worth $75,000 after purchasing an additional 1,375 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wedbush upgraded Plymouth Industrial REIT to a “hold” rating in a research report on Wednesday, July 2nd. BMO Capital Markets lifted their price target on Plymouth Industrial REIT from $17.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, August 21st. Citizens Jmp cut Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Plymouth Industrial REIT in a research report on Saturday, September 27th. Finally, JMP Securities reiterated a “market perform” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, August 20th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Plymouth Industrial REIT presently has a consensus rating of “Hold” and an average target price of $21.33.

Plymouth Industrial REIT Price Performance

PLYM stock opened at $22.15 on Friday. The company has a fifty day moving average price of $19.57 and a 200-day moving average price of $17.08. The company has a market capitalization of $986.69 million, a P/E ratio of 7.69 and a beta of 1.16. Plymouth Industrial REIT has a 52-week low of $12.70 and a 52-week high of $22.65. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.13 and a current ratio of 0.13.

Plymouth Industrial REIT (NYSE:PLYM) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $47.20 million during the quarter, compared to the consensus estimate 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, equities analysts expect that Plymouth Industrial REIT will post 1.83 EPS for the current year.

Plymouth Industrial REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 dividend yield of 4.3%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 33.33%.

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.