State of New Jersey Common Pension Fund D Has $3.32 Million Stock Position in Plymouth Industrial REIT $PLYM

State of New Jersey Common Pension Fund D lowered its stake in shares of Plymouth Industrial REIT (NYSE:PLYM) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 206,811 shares of the company’s stock after selling 5,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Plymouth Industrial REIT were worth $3,321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Parallel Advisors LLC raised its stake in Plymouth Industrial REIT by 136.1% in the 2nd quarter. Parallel Advisors LLC now owns 1,594 shares of the company’s stock valued at $26,000 after acquiring an additional 919 shares during the period. D.A. Davidson & CO. raised its position in shares of Plymouth Industrial REIT by 1.6% in the first quarter. D.A. Davidson & CO. now owns 58,905 shares of the company’s stock valued at $960,000 after buying an additional 949 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Plymouth Industrial REIT by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,804 shares of the company’s stock valued at $388,000 after acquiring an additional 982 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its position in Plymouth Industrial REIT by 8.7% during the first quarter. Resona Asset Management Co. Ltd. now owns 17,168 shares of the company’s stock worth $288,000 after purchasing an additional 1,370 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Plymouth Industrial REIT by 43.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the company’s stock worth $75,000 after acquiring an additional 1,375 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Plymouth Industrial REIT Trading Down 0.8%

Shares of PLYM stock opened at $21.90 on Tuesday. Plymouth Industrial REIT has a 52-week low of $12.70 and a 52-week high of $22.65. The company has a 50-day simple moving average of $21.86 and a two-hundred day simple moving average of $17.77. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $975.56 million, a price-to-earnings ratio of 7.60 and a beta of 1.16.

Plymouth Industrial REIT (NYSE:PLYM) last announced its earnings results on Wednesday, August 6th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $47.20 million for the quarter, compared to the consensus estimate of $46.20 million. Plymouth Industrial REIT had a return on equity of 24.24% and a net margin of 67.77%. Research analysts anticipate that Plymouth Industrial REIT will post 1.83 EPS for the current fiscal year.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 4.4%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 33.33%.

Analyst Ratings Changes

PLYM has been the subject of a number of research reports. Barclays dropped their target price on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday. Citizens Jmp downgraded shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Wall Street Zen raised Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Colliers Securities reaffirmed a “neutral” rating and issued a $22.00 price target on shares of Plymouth Industrial REIT in a research note on Monday. Finally, Wedbush raised Plymouth Industrial REIT to a “hold” rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.55.

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.