Daiwa Securities Group Inc. Grows Stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Daiwa Securities Group Inc. grew its holdings in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,838 shares of the company’s stock after purchasing an additional 939 shares during the period. Daiwa Securities Group Inc.’s holdings in Plymouth Industrial REIT were worth $266,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC increased its stake in Plymouth Industrial REIT by 25.8% during the 4th quarter. Jennison Associates LLC now owns 3,949,004 shares of the company’s stock valued at $95,053,000 after purchasing an additional 809,570 shares in the last quarter. GW&K Investment Management LLC increased its position in shares of Plymouth Industrial REIT by 44,205.6% in the 4th quarter. GW&K Investment Management LLC now owns 119,625 shares of the company’s stock valued at $2,879,000 after acquiring an additional 119,355 shares during the period. Knights of Columbus Asset Advisors LLC raised its stake in Plymouth Industrial REIT by 94.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 192,243 shares of the company’s stock worth $4,627,000 after acquiring an additional 93,434 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Plymouth Industrial REIT by 19.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 562,177 shares of the company’s stock worth $13,532,000 after acquiring an additional 90,645 shares during the period. Finally, Vanguard Group Inc. grew its stake in Plymouth Industrial REIT by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 4,148,814 shares of the company’s stock valued at $99,862,000 after purchasing an additional 83,192 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

PLYM has been the subject of a number of research reports. Barclays assumed coverage on Plymouth Industrial REIT in a report on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 target price for the company. JPMorgan Chase & Co. cut their price objective on shares of Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $24.60.

Plymouth Industrial REIT Stock Performance

PLYM opened at $22.70 on Friday. The firm has a fifty day moving average price of $21.07 and a 200 day moving average price of $21.72. Plymouth Industrial REIT, Inc. has a 1 year low of $19.21 and a 1 year high of $25.55. The stock has a market cap of $1.03 billion, a P/E ratio of 52.79, a P/E/G ratio of 1.70 and a beta of 1.36. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.12 and a quick ratio of 0.12.

Plymouth Industrial REIT (NYSE:PLYM) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $50.23 million during the quarter, compared to analysts’ expectations of $50.73 million. During the same period in the previous year, the firm posted $0.45 EPS. Equities research analysts anticipate that Plymouth Industrial REIT, Inc. will post 1.9 earnings per share for the current year.

Plymouth Industrial REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, June 28th. This represents a $0.96 dividend on an annualized basis and a yield of 4.23%. Plymouth Industrial REIT’s dividend payout ratio is currently 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.