Plymouth Industrial REIT, Inc. (NYSE:PLYM) Shares Bought by Jennison Associates LLC

Jennison Associates LLC boosted its holdings in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 5.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,183,540 shares of the company’s stock after buying an additional 234,536 shares during the quarter. Jennison Associates LLC owned 0.09% of Plymouth Industrial REIT worth $94,130,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PLYM. GW&K Investment Management LLC lifted its holdings in Plymouth Industrial REIT by 44,205.6% during the 4th quarter. GW&K Investment Management LLC now owns 119,625 shares of the company’s stock worth $2,879,000 after buying an additional 119,355 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in shares of 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 valued at $4,627,000 after purchasing an additional 93,434 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Plymouth Industrial REIT by 19.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 562,177 shares of the company’s stock valued at $13,532,000 after purchasing an additional 90,645 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Plymouth Industrial REIT by 2.0% in 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 in the last quarter. Finally, Strs Ohio raised its holdings in shares of Plymouth Industrial REIT by 60.1% in the 4th quarter. Strs Ohio now owns 127,004 shares of the company’s stock valued at $3,056,000 after purchasing an additional 47,700 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Plymouth Industrial REIT Price Performance

Shares of NYSE PLYM traded down $0.30 during midday trading on Tuesday, hitting $21.33. The company had a trading volume of 49,405 shares, compared to its average volume of 225,627. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $967.96 million, a price-to-earnings ratio of 50.30, a price-to-earnings-growth ratio of 1.61 and a beta of 1.36. The business has a 50-day simple moving average of $20.96 and a two-hundred day simple moving average of $21.74. Plymouth Industrial REIT, Inc. has a twelve month low of $19.21 and a twelve month high of $25.55.

Plymouth Industrial REIT (NYSE:PLYM) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.33). The business had revenue of $50.23 million during the quarter, compared to analysts’ expectations of $50.73 million. Plymouth Industrial REIT had a net margin of 11.42% and a return on equity of 4.74%. During the same period last year, the company earned $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 company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Friday, June 28th. Plymouth Industrial REIT’s payout ratio is 223.26%.

Analyst Ratings Changes

Separately, Barclays assumed coverage on shares of Plymouth Industrial REIT in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.00.

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.