Kennedy Capital Management LLC Trims Stock Holdings in Plymouth Industrial REIT $PLYM

by · The Markets Daily

Kennedy Capital Management LLC trimmed its stake in Plymouth Industrial REIT (NYSE:PLYM – Free Report) by 15.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,022 shares of the company’s stock after selling 33,762 shares during the period. Kennedy Capital Management LLC’s holdings in Plymouth Industrial REIT were worth $2,875,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC raised its holdings in 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 period. PNC Financial Services Group Inc. boosted its stake in 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 buying an additional 1,375 shares during the period. Crossingbridge Advisors LLC purchased a new position in Plymouth Industrial REIT during the 1st quarter valued at about $82,000. Versor Investments LP purchased a new stake in shares of Plymouth Industrial REIT during the second quarter worth $164,000. Finally, ZWJ Investment Counsel Inc. raised its holdings in Plymouth Industrial REIT by 24.3% in the second quarter. ZWJ Investment Counsel Inc. now owns 14,184 shares of the company’s stock valued at $228,000 after acquiring an additional 2,774 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Industrial Alliance Securities set a $22.00 price objective on shares of Plymouth Industrial REIT in a research report on Monday, October 27th. JMP Securities restated a “market perform” rating on shares of Plymouth Industrial REIT in a research note on Wednesday, August 20th. BMO Capital Markets lowered their target price on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating for the company in a research note on Monday, October 27th. Citizens Jmp downgraded Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Finally, Barclays cut their price objective on Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, October 27th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $21.40.

View Our Latest Stock Analysis on PLYM

Plymouth Industrial REIT Trading Down 0.2%

Shares of Plymouth Industrial REIT stock opened at $21.88 on Friday. Plymouth Industrial REIT has a 12-month low of $12.70 and a 12-month high of $22.74. The stock has a market capitalization of $974.55 million, a P/E ratio of 10.94 and a beta of 1.26. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.31. The company has a 50-day simple moving average of $22.03 and a 200 day simple moving average of $19.18.

Plymouth Industrial REIT (NYSE:PLYM – Get Free Report) last posted its earnings results on Monday, November 10th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($1.70). The company had revenue of $51.16 million for the quarter, compared to analyst estimates of $49.62 million. Plymouth Industrial REIT had a return on equity of 16.76% and a net margin of 47.78%. Research analysts expect that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th were given a $0.24 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 4.4%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 48.00%.

Plymouth Industrial REIT Profile

(Free Report)

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.

Further Reading

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