Sound Income Strategies LLC Reduces Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Sound Income Strategies LLC lessened its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM – Get Rating) by 6.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 81,982 shares of the company’s stock after selling 5,404 shares during the quarter. Sound Income Strategies LLC owned about 0.19% of Plymouth Industrial REIT worth $1,572,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners grew its stake in Plymouth Industrial REIT by 1.1% during the 3rd quarter. Boston Partners now owns 57,553 shares of the company’s stock worth $967,000 after buying an additional 633 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Plymouth Industrial REIT by 5.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 18,725 shares of the company’s stock valued at $314,000 after purchasing an additional 955 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Plymouth Industrial REIT by 73.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,337 shares of the company’s stock valued at $39,000 after purchasing an additional 989 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Plymouth Industrial REIT by 1.0% in the 3rd quarter. Royal Bank of Canada now owns 106,622 shares of the company’s stock valued at $1,792,000 after purchasing an additional 1,094 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Plymouth Industrial REIT by 1.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 118,706 shares of the company’s stock valued at $2,082,000 after purchasing an additional 1,182 shares during the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.

Plymouth Industrial REIT Price Performance

Shares of PLYM traded down $0.36 during mid-day trading on Friday, hitting $20.53. The company’s stock had a trading volume of 231,260 shares, compared to its average volume of 146,857. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 1.76. The firm has a 50-day simple moving average of $21.40 and a 200 day simple moving average of $19.90. The firm has a market capitalization of $883.41 million, a P/E ratio of -30.19, a P/E/G ratio of 1.60 and a beta of 1.35. Plymouth Industrial REIT, Inc. has a 1-year low of $15.59 and a 1-year high of $27.31.

Plymouth Industrial REIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, March 31st will be issued a $0.225 dividend. This is a boost from Plymouth Industrial REIT’s previous quarterly dividend of $0.22. This represents a $0.90 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Thursday, March 30th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently -129.41%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. B. Riley lifted their target price on Plymouth Industrial REIT from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. Truist Financial lifted their target price on Plymouth Industrial REIT from $23.00 to $25.00 in a research note on Monday, February 27th.

Plymouth Industrial REIT Profile

(Get Rating)

Plymouth Industrial REIT, Inc engages in the acquisition, ownership, and management of single and multi-tenant distribution centers, warehouses, and light industrial properties. It seeks to acquire properties that provide income and growth, and enhance shareholder value through active asset management, prudent property re-positioning, and disciplined capital deployment.