Plymouth Industrial REIT, Inc. (NYSE:PLYM) Position Increased by Federated Hermes Inc.

Federated Hermes Inc. boosted its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 774.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,845 shares of the company’s stock after purchasing an additional 1,634 shares during the period. Federated Hermes Inc.’s holdings in Plymouth Industrial REIT were worth $44,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLYM. International Assets Investment Management LLC lifted its holdings in shares of Plymouth Industrial REIT by 2,306.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,155 shares of the company’s stock valued at $28,000 after buying an additional 1,107 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Plymouth Industrial REIT by 35.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,559 shares of the company’s stock valued at $221,000 after acquiring an additional 2,762 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Plymouth Industrial REIT in the third quarter valued at approximately $390,000. Teacher Retirement System of Texas grew its position in Plymouth Industrial REIT by 34.3% in the third quarter. Teacher Retirement System of Texas now owns 20,089 shares of the company’s stock worth $421,000 after acquiring an additional 5,135 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Plymouth Industrial REIT by 2.2% during the 4th quarter. State of Alaska Department of Revenue now owns 20,758 shares of the company’s stock worth $499,000 after purchasing an additional 447 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Price Performance

NYSE PLYM opened at $20.49 on Tuesday. The stock has a 50-day simple moving average of $21.42 and a 200 day simple moving average of $21.98. Plymouth Industrial REIT, Inc. has a twelve month low of $19.21 and a twelve month high of $25.55. The stock has a market capitalization of $929.61 million, a PE ratio of 47.64, a P/E/G ratio of 1.54 and a beta of 1.35. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.12 and a current ratio of 0.12.

Plymouth Industrial REIT (NYSE:PLYM) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.33). The business had revenue of $50.23 million for the quarter, compared to analyst estimates of $50.73 million. Plymouth Industrial REIT had a return on equity of 4.74% and a net margin of 11.42%. During the same quarter last year, the firm earned $0.45 earnings per share. Research analysts anticipate that Plymouth Industrial REIT, Inc. will post 1.91 EPS for the current year.

Plymouth Industrial REIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.69%. This is a positive change from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. The ex-dividend date was Wednesday, March 27th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 223.26%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PLYM shares. Truist Financial decreased their price objective on shares of Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 29th. JMP Securities raised Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research note on Monday, January 22nd. Finally, Barclays started coverage on Plymouth Industrial REIT in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.00.

Insider Transactions at Plymouth Industrial REIT

In related news, Director Pendleton P. White bought 4,000 shares of Plymouth Industrial REIT stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $21.58 per share, for a total transaction of $86,320.00. Following the completion of the purchase, the director now owns 4,000 shares in the company, valued at $86,320. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

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.