Wedbush Securities Inc. Cuts Stock Position in Plymouth Industrial REIT $PLYM

Wedbush Securities Inc. trimmed its holdings in Plymouth Industrial REIT (NYSE:PLYM) by 11.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,174 shares of the company’s stock after selling 2,375 shares during the quarter. Wedbush Securities Inc.’s holdings in Plymouth Industrial REIT were worth $292,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PLYM. Westwood Holdings Group Inc. increased its stake in Plymouth Industrial REIT by 24.5% in the first quarter. Westwood Holdings Group Inc. now owns 4,520,361 shares of the company’s stock worth $73,682,000 after purchasing an additional 889,250 shares during the period. MetLife Investment Management LLC boosted its position in Plymouth Industrial REIT by 2,406.8% in the 1st quarter. MetLife Investment Management LLC now owns 656,826 shares of the company’s stock valued at $10,706,000 after buying an additional 630,624 shares during the period. Strs Ohio purchased a new stake in shares of Plymouth Industrial REIT during the first quarter valued at about $6,652,000. BROOKFIELD Corp ON bought a new stake in shares of Plymouth Industrial REIT in the 1st quarter valued at about $3,894,000. Finally, Heartland Advisors Inc. grew its position in shares of Plymouth Industrial REIT by 56.7% in the 1st quarter. Heartland Advisors Inc. now owns 549,900 shares of the company’s stock worth $8,963,000 after buying an additional 198,900 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PLYM. Barclays cut their price target on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, October 27th. Robert W. Baird downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $19.00 to $24.00 in a research report on Thursday, October 23rd. Industrial Alliance Securities set a $22.00 target price on shares of Plymouth Industrial REIT in a research note on Monday, October 27th. Baird R W lowered shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. Finally, Truist Financial upped their target price on shares of Plymouth Industrial REIT from $18.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Plymouth Industrial REIT currently has a consensus rating of “Hold” and a consensus target price of $21.40.

Plymouth Industrial REIT Trading Up 0.4%

Shares of Plymouth Industrial REIT stock opened at $22.30 on Thursday. Plymouth Industrial REIT has a 1 year low of $12.70 and a 1 year high of $22.65. The company has a market capitalization of $993.42 million, a P/E ratio of 11.14 and a beta of 1.18. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.13 and a current ratio of 0.13. The company’s fifty day moving average is $21.98 and its two-hundred day moving average is $18.42.

Plymouth Industrial REIT Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 4.3%. Plymouth Industrial REIT’s dividend payout ratio is presently 48.00%.

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.