Dynamic Technology Lab Private Ltd Lowers Holdings in Plymouth Industrial REIT $PLYM

Dynamic Technology Lab Private Ltd lowered its stake in shares of Plymouth Industrial REIT (NYSE:PLYM) by 56.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 10,933 shares of the company’s stock after selling 14,355 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Plymouth Industrial REIT were worth $176,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Westwood Holdings Group Inc. raised its position in Plymouth Industrial REIT by 24.5% during the first quarter. Westwood Holdings Group Inc. now owns 4,520,361 shares of the company’s stock valued at $73,682,000 after acquiring an additional 889,250 shares in the last quarter. MetLife Investment Management LLC grew its position in Plymouth Industrial REIT by 2,406.8% during the first 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 acquired a new position in shares of Plymouth Industrial REIT in the first quarter worth about $6,652,000. BROOKFIELD Corp ON acquired a new stake in shares of Plymouth Industrial REIT during the 1st quarter valued at about $3,894,000. Finally, Meros Investment Management LP increased its stake in shares of Plymouth Industrial REIT by 47.7% in the 1st quarter. Meros Investment Management LP now owns 573,160 shares of the company’s stock valued at $9,343,000 after purchasing an additional 185,170 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on PLYM shares. Wall Street Zen raised Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Baird R W lowered shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Citizens Jmp lowered shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Industrial Alliance Securities set a $22.00 price objective on Plymouth Industrial REIT in a report on Monday, October 27th. Finally, Robert W. Baird downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and raised their target price for the company from $19.00 to $24.00 in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Plymouth Industrial REIT currently has a consensus rating of “Hold” and an average target price of $21.40.

Plymouth Industrial REIT Trading Down 2.9%

PLYM opened at $22.03 on Thursday. The firm has a market capitalization of $981.48 million, a price-to-earnings ratio of 11.02 and a beta of 1.18. The company’s 50 day simple moving average is $22.01 and its two-hundred day simple moving average is $18.91. Plymouth Industrial REIT has a 1-year low of $12.70 and a 1-year high of $22.74. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.13 and a quick ratio of 0.13.

Plymouth Industrial REIT (NYSE:PLYM) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.23) EPS 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 analysts’ expectations of $49.62 million. Plymouth Industrial REIT had a return on equity of 16.76% and a net margin of 47.78%. Analysts expect that Plymouth Industrial REIT will post 1.83 EPS for the current fiscal year.

Plymouth Industrial REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 4.4%. Plymouth Industrial REIT’s 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.