Plymouth Industrial REIT, Inc. (NYSE:PLYM) Stake Boosted by Strs Ohio

Strs Ohio increased its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 60.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,004 shares of the company’s stock after purchasing an additional 47,700 shares during the quarter. Strs Ohio owned 0.28% of Plymouth Industrial REIT worth $3,056,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its stake in Plymouth Industrial REIT by 2.2% during the fourth quarter. State of Alaska Department of Revenue now owns 20,758 shares of the company’s stock worth $499,000 after purchasing an additional 447 shares during the last quarter. HighTower Advisors LLC lifted its stake in Plymouth Industrial REIT by 5.3% in the third quarter. HighTower Advisors LLC now owns 9,713 shares of the company’s stock valued at $203,000 after buying an additional 492 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Plymouth Industrial REIT by 3.0% in the fourth quarter. MetLife Investment Management LLC now owns 19,829 shares of the company’s stock valued at $380,000 after buying an additional 575 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Plymouth Industrial REIT by 0.6% in the fourth quarter. Macquarie Group Ltd. now owns 123,638 shares of the company’s stock valued at $2,371,000 after buying an additional 681 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in Plymouth Industrial REIT by 24.2% in the second quarter. Ameritas Investment Partners Inc. now owns 3,548 shares of the company’s stock valued at $82,000 after buying an additional 691 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PLYM. Barclays began coverage on Plymouth Industrial REIT in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $22.00 target price on the stock. JMP Securities upgraded Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a research note on Monday, January 22nd. Finally, Truist Financial cut their target price on Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Insider Buying and Selling

In other news, Director Pendleton P. White bought 4,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $21.58 per share, with a total value of $86,320.00. Following the completion of the acquisition, the director now directly owns 4,000 shares in the company, valued at $86,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Plymouth Industrial REIT Price Performance

Shares of PLYM opened at $20.06 on Friday. The firm has a market capitalization of $910.32 million, a price-to-earnings ratio of 105.58, a price-to-earnings-growth ratio of 1.51 and a beta of 1.36. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.11 and a current ratio of 0.11. Plymouth Industrial REIT, Inc. has a one year low of $19.21 and a one year high of $25.55. The stock’s fifty day moving average is $21.71 and its 200-day moving average is $21.97.

Plymouth Industrial REIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.79%. This is a positive change from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, March 27th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 505.26%.

Plymouth Industrial REIT Profile

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.