Plymouth Industrial REIT, Inc. (NYSE:PLYM) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 6.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 246,404 shares of the company’s stock after acquiring an additional 15,029 shares during the period. State of New Jersey Common Pension Fund D owned 0.54% of Plymouth Industrial REIT worth $4,386,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP increased its holdings in shares of Plymouth Industrial REIT by 88.4% in the third quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after purchasing an additional 860 shares during the period. Copeland Capital Management LLC acquired a new position in Plymouth Industrial REIT in the 3rd quarter valued at $43,000. Loomis Sayles & Co. L P lifted its stake in shares of Plymouth Industrial REIT by 3,130.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock worth $45,000 after acquiring an additional 1,941 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Plymouth Industrial REIT in the third quarter valued at about $46,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Plymouth Industrial REIT during the third quarter worth about $123,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Plymouth Industrial REIT Stock Down 0.5 %

PLYM opened at $16.44 on Thursday. The business’s fifty day simple moving average is $17.21 and its 200 day simple moving average is $20.04. Plymouth Industrial REIT, Inc. has a 52 week low of $16.20 and a 52 week high of $24.71. The firm has a market cap of $746.35 million, a P/E ratio of 822.15 and a beta of 1.33. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42.

Plymouth Industrial REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.84%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 4,800.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLYM. Barclays lowered their price objective on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. JMP Securities restated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. BNP Paribas cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research report on Friday, November 8th. Truist Financial cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.89.

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.