B. Riley Wealth Advisors Inc. Sells 490 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

B. Riley Wealth Advisors Inc. lowered its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,702 shares of the company’s stock after selling 490 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Plymouth Industrial REIT were worth $527,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Plymouth Industrial REIT by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 4,148,814 shares of the company’s stock valued at $99,862,000 after buying an additional 83,192 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Plymouth Industrial REIT by 1.8% in the 4th quarter. Wellington Management Group LLP now owns 1,669,720 shares of the company’s stock valued at $40,190,000 after acquiring an additional 29,479 shares in the last quarter. Garner Asset Management Corp acquired a new stake in Plymouth Industrial REIT in the 4th quarter worth approximately $98,000. Pinebridge Investments L.P. bought a new stake in Plymouth Industrial REIT during the fourth quarter worth approximately $654,000. Finally, Bard Associates Inc. grew its holdings in Plymouth Industrial REIT by 2.6% during the fourth quarter. Bard Associates Inc. now owns 30,203 shares of the company’s stock valued at $734,000 after purchasing an additional 754 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays initiated coverage on shares of Plymouth Industrial REIT in a report on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 price objective for the company. Truist Financial lowered their price target on Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Plymouth Industrial REIT presently has an average rating of “Hold” and an average target price of $25.00.

Plymouth Industrial REIT Price Performance

NYSE:PLYM opened at $21.12 on Monday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market cap of $958.43 million, a P/E ratio of 49.12, a PEG ratio of 1.58 and a beta of 1.36. The company has a fifty day moving average price of $20.81 and a 200 day moving average price of $21.96. Plymouth Industrial REIT, Inc. has a one year low of $19.21 and a one year high of $25.55.

Plymouth Industrial REIT (NYSE:PLYM) last released its earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.33). Plymouth Industrial REIT had a net margin of 11.42% and a return on equity of 4.74%. The company had revenue of $50.23 million during the quarter, compared to the consensus estimate of $50.73 million. During the same quarter in the previous year, the business posted $0.45 EPS. Analysts anticipate that Plymouth Industrial REIT, Inc. will post 1.9 earnings per share for the current year.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date is Friday, June 28th. Plymouth Industrial REIT’s dividend payout ratio is presently 223.26%.

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.