Adams Asset Advisors LLC Purchases 17,732 Shares of Plymouth Industrial REIT (NYSE:PLYM)

Adams Asset Advisors LLC lifted its stake in Plymouth Industrial REIT (NYSE:PLYM) by 29.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,732 shares of the company’s stock after acquiring an additional 17,732 shares during the quarter. Adams Asset Advisors LLC owned 0.17% of Plymouth Industrial REIT worth $1,267,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLYM. Westwood Holdings Group Inc. lifted its position in shares of Plymouth Industrial REIT by 33.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company’s stock valued at $64,634,000 after acquiring an additional 901,251 shares in the last quarter. Mesirow Institutional Investment Management Inc. purchased a new position in shares of Plymouth Industrial REIT during the fourth quarter valued at approximately $10,433,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Plymouth Industrial REIT during the fourth quarter valued at approximately $9,612,000. Thompson Siegel & Walmsley LLC purchased a new position in shares of Plymouth Industrial REIT during the fourth quarter valued at approximately $7,443,000. Finally, Heartland Advisors Inc. boosted its holdings in shares of Plymouth Industrial REIT by 75.5% in the fourth quarter. Heartland Advisors Inc. now owns 351,000 shares of the company’s stock valued at $6,248,000 after purchasing an additional 151,000 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Up 0.6%

PLYM stock opened at $16.47 on Thursday. The company has a market cap of $750.27 million, a price-to-earnings ratio of 5.40 and a beta of 1.12. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.08. Plymouth Industrial REIT has a 12 month low of $12.70 and a 12 month high of $24.71. The firm has a 50-day moving average of $15.61 and a two-hundred day moving average of $16.53.

Plymouth Industrial REIT (NYSE:PLYM) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The business had revenue of $45.57 million during the quarter, compared to analyst estimates of $47.69 million. Plymouth Industrial REIT had a net margin of 71.08% and a return on equity of 26.42%. As a group, analysts forecast that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.96 annualized dividend and a yield of 5.83%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 31.48%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wedbush set a $17.00 price target on Plymouth Industrial REIT in a report on Friday, February 28th. Truist Financial reduced their price target on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Monday, March 24th. Barclays cut their target price on Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Monday, March 31st. Wall Street Zen downgraded Plymouth Industrial REIT from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Finally, KeyCorp cut their price target on Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $21.10.

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.