Wellington Management Group LLP Raises Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Wellington Management Group LLP increased its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,669,720 shares of the company’s stock after purchasing an additional 29,479 shares during the quarter. Wellington Management Group LLP owned approximately 3.68% of Plymouth Industrial REIT worth $40,190,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Garner Asset Management Corp bought a new stake in shares of Plymouth Industrial REIT in the fourth quarter valued at $98,000. Pinebridge Investments L.P. bought a new stake in Plymouth Industrial REIT in the 4th quarter valued at about $654,000. Bard Associates Inc. raised its stake in Plymouth Industrial REIT by 2.6% in the 4th quarter. Bard Associates Inc. now owns 30,203 shares of the company’s stock valued at $734,000 after acquiring an additional 754 shares during the period. GW&K Investment Management LLC lifted its holdings in Plymouth Industrial REIT by 44,205.6% during the fourth quarter. GW&K Investment Management LLC now owns 119,625 shares of the company’s stock valued at $2,879,000 after purchasing an additional 119,355 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in Plymouth Industrial REIT by 77.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,751 shares of the company’s stock worth $42,000 after purchasing an additional 764 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

PLYM has been the topic of a number of recent research reports. Barclays started coverage on shares of Plymouth Industrial REIT in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 price target on the stock. Truist Financial dropped their target price 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 analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Plymouth Industrial REIT has an average rating of “Hold” and a consensus price target of $25.00.

Plymouth Industrial REIT Stock Performance

Plymouth Industrial REIT stock opened at $21.12 on Monday. Plymouth Industrial REIT, Inc. has a 1-year low of $19.21 and a 1-year high of $25.55. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $958.43 million, a PE ratio of 49.12, a price-to-earnings-growth ratio of 1.58 and a beta of 1.36. The firm’s 50 day simple moving average is $20.81 and its 200 day simple moving average is $21.96.

Plymouth Industrial REIT (NYSE:PLYM) last released its quarterly 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 return on equity of 4.74% and a net margin of 11.42%. The firm had revenue of $50.23 million during the quarter, compared to the consensus estimate of $50.73 million. During the same period in the previous year, the company posted $0.45 EPS. As a group, analysts expect that Plymouth Industrial REIT, Inc. will post 1.9 earnings per share for the current fiscal year.

Plymouth Industrial REIT Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.55%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 223.26%.

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.