Cornercap Investment Counsel Inc. Decreases Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Cornercap Investment Counsel Inc. lowered its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 48.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,735 shares of the company’s stock after selling 15,621 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Plymouth Industrial REIT were worth $378,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in Plymouth Industrial REIT by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock valued at $95,943,000 after buying an additional 115,318 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in Plymouth Industrial REIT by 1.0% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock valued at $63,372,000 after buying an additional 28,272 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Plymouth Industrial REIT by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company’s stock valued at $11,480,000 after purchasing an additional 4,265 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Plymouth Industrial REIT by 0.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 427,629 shares of the company’s stock valued at $9,143,000 after purchasing an additional 2,683 shares during the period. Finally, Meros Investment Management LP boosted its holdings in Plymouth Industrial REIT by 38.2% in the 2nd quarter. Meros Investment Management LP now owns 402,923 shares of the company’s stock valued at $8,614,000 after purchasing an additional 111,339 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLYM has been the subject of several analyst reports. B. Riley raised their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a report on Monday, August 5th. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. BMO Capital Markets dropped their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Wednesday, August 28th. Barclays lifted their price objective on shares of Plymouth Industrial REIT from $22.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Finally, Wedbush lifted their price objective on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.22.

Plymouth Industrial REIT Stock Performance

Plymouth Industrial REIT stock opened at $18.38 on Monday. The company has a quick ratio of 0.16, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $834.27 million, a PE ratio of 919.00, a P/E/G ratio of 1.43 and a beta of 1.37. The firm has a fifty day simple moving average of $21.54 and a two-hundred day simple moving average of $21.98. Plymouth Industrial REIT, Inc. has a twelve month low of $18.29 and a twelve month high of $25.55.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date of this dividend was Monday, September 30th. Plymouth Industrial REIT’s payout ratio is 4,800.00%.

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.