Westwood Holdings Group Inc. Acquires 4,820 Shares of Plymouth Industrial REIT $PLYM

Westwood Holdings Group Inc. raised its stake in shares of Plymouth Industrial REIT (NYSE:PLYM) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,525,181 shares of the company’s stock after purchasing an additional 4,820 shares during the period. Westwood Holdings Group Inc. owned 9.93% of Plymouth Industrial REIT worth $72,674,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC raised its position in shares of Plymouth Industrial REIT by 181.8% during the first quarter. Signaturefd LLC now owns 4,946 shares of the company’s stock worth $81,000 after acquiring an additional 3,191 shares during the last quarter. Victory Capital Management Inc. increased its position in Plymouth Industrial REIT by 10.6% during the 1st quarter. Victory Capital Management Inc. now owns 73,000 shares of the company’s stock valued at $1,190,000 after purchasing an additional 7,000 shares during the period. Kestra Private Wealth Services LLC acquired a new stake in Plymouth Industrial REIT during the 1st quarter valued at approximately $307,000. Allianz Asset Management GmbH bought a new position in shares of Plymouth Industrial REIT in the 1st quarter worth about $729,000. Finally, Wedbush Securities Inc. lifted its position in shares of Plymouth Industrial REIT by 49.7% during the 1st quarter. Wedbush Securities Inc. now owns 20,549 shares of the company’s stock valued at $335,000 after acquiring an additional 6,826 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Plymouth Industrial REIT Stock Performance

NYSE:PLYM opened at $22.29 on Friday. Plymouth Industrial REIT has a twelve month low of $12.70 and a twelve month high of $22.65. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.31. The stock has a market cap of $992.80 million, a P/E ratio of 11.14 and a beta of 1.18. The firm’s fifty day simple moving average is $21.98 and its 200 day simple moving average is $18.49.

Plymouth Industrial REIT (NYSE:PLYM) last issued its earnings results on Monday, November 10th. The company reported ($1.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($1.70). The company had revenue of $51.16 million for the quarter, compared to the consensus estimate of $49.62 million. Plymouth Industrial REIT had a return on equity of 16.76% and a net margin of 47.78%. As a group, research analysts predict that Plymouth Industrial REIT will post 1.83 EPS for the current year.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, September 30th were issued a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.3%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 48.00%.

Analyst Ratings Changes

A number of research firms have issued reports on PLYM. Robert W. Baird downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $19.00 to $24.00 in a report on Thursday, October 23rd. Colliers Securities lowered shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research note on Monday, October 27th. Weiss Ratings restated a “hold (c)” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, October 8th. BMO Capital Markets decreased their target price on Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating on the stock in a research note on Monday, October 27th. Finally, Citizens Jmp cut shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $21.40.

Plymouth Industrial REIT 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.