Cornercap Investment Counsel Inc. Trims Stake 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% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,735 shares of the company’s stock after selling 15,621 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Plymouth Industrial REIT were worth $378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Westwood Holdings Group Inc. grew its holdings in Plymouth Industrial REIT by 10.8% in the first quarter. Westwood Holdings Group Inc. now owns 2,935,803 shares of the company’s stock worth $66,056,000 after purchasing an additional 286,434 shares during the period. F M Investments LLC bought a new position in shares of Plymouth Industrial REIT in the second quarter worth approximately $6,088,000. Millennium Management LLC lifted its stake in shares of Plymouth Industrial REIT by 115.6% in the second quarter. Millennium Management LLC now owns 338,894 shares of the company’s stock worth $7,246,000 after buying an additional 181,725 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Plymouth Industrial REIT by 2.8% in the first quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock worth $95,943,000 after buying an additional 115,318 shares in the last quarter. Finally, Meros Investment Management LP lifted its stake in shares of Plymouth Industrial REIT by 38.2% in the second quarter. Meros Investment Management LP now owns 402,923 shares of the company’s stock worth $8,614,000 after buying an additional 111,339 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Down 1.3 %

Shares of PLYM stock opened at $18.38 on Monday. The company has a 50 day simple moving average of $21.54 and a two-hundred day simple moving average of $21.98. The company has a current ratio of 0.12, a quick ratio of 0.16 and a debt-to-equity ratio of 1.42. The stock has a market cap of $834.27 million, a P/E ratio of 919.00, a P/E/G ratio of 1.43 and a beta of 1.37. Plymouth Industrial REIT, Inc. has a 12 month low of $18.29 and a 12 month high of $25.55.

Plymouth Industrial REIT Dividend Announcement

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

Wall Street Analyst Weigh In

PLYM has been the topic of several analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. Robert W. Baird dropped their target price on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Wedbush increased their price objective on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. BMO Capital Markets lowered their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 28th. Finally, BNP Paribas downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $25.22.

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.