Meeder Asset Management Inc. Invests $1.08 Million in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Meeder Asset Management Inc. purchased a new position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 50,417 shares of the company’s stock, valued at approximately $1,078,000. Meeder Asset Management Inc. owned about 0.11% of Plymouth Industrial REIT at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. increased its holdings in shares of Plymouth Industrial REIT by 2.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 22,192 shares of the company’s stock worth $470,000 after buying an additional 490 shares during the last quarter. American International Group Inc. increased its holdings in Plymouth Industrial REIT by 2.5% in the 1st quarter. American International Group Inc. now owns 22,508 shares of the company’s stock valued at $506,000 after purchasing an additional 544 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Plymouth Industrial REIT by 1.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 42,914 shares of the company’s stock valued at $966,000 after purchasing an additional 578 shares during the last quarter. Bard Associates Inc. increased its holdings in Plymouth Industrial REIT by 2.6% in the 4th quarter. Bard Associates Inc. now owns 30,203 shares of the company’s stock valued at $734,000 after purchasing an additional 754 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Plymouth Industrial REIT by 77.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,751 shares of the company’s stock valued at $42,000 after purchasing an additional 764 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PLYM shares. JPMorgan Chase & Co. dropped their target price on shares of Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Barclays lifted their target price on shares of Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. JMP Securities reiterated a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. Wedbush boosted their price target on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Finally, B. Riley boosted their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $25.57.

Insider Transactions at Plymouth Industrial REIT

In other news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of Plymouth Industrial REIT stock in a transaction on Monday, August 19th. The shares were sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the completion of the sale, the insider now directly owns 4,474,292 shares of the company’s stock, valued at approximately $105,503,805.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Plymouth Industrial REIT Price Performance

Plymouth Industrial REIT stock opened at $22.95 on Friday. The stock has a market cap of $1.04 billion, a P/E ratio of 53.37, a price-to-earnings-growth ratio of 1.73 and a beta of 1.36. The company has a fifty day simple moving average of $23.45 and a 200-day simple moving average of $21.98. Plymouth Industrial REIT, Inc. has a 12-month low of $19.21 and a 12-month high of $25.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49.

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.