Plymouth Industrial REIT, Inc. (NYSE:PLYM) Shares Acquired by Vestcor Inc

Vestcor Inc grew its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,232 shares of the company’s stock after acquiring an additional 2,306 shares during the quarter. Vestcor Inc owned about 0.09% of Plymouth Industrial REIT worth $698,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PLYM. Quarry LP increased its stake in shares of Plymouth Industrial REIT by 88.4% in the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after acquiring an additional 860 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Plymouth Industrial REIT by 3,130.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock worth $45,000 after purchasing an additional 1,941 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Plymouth Industrial REIT during the 3rd quarter worth $46,000. Point72 Hong Kong Ltd purchased a new position in shares of Plymouth Industrial REIT during the 3rd quarter worth $123,000. Finally, SG Americas Securities LLC grew its holdings in shares of Plymouth Industrial REIT by 15.0% during the 4th quarter. SG Americas Securities LLC now owns 10,390 shares of the company’s stock worth $185,000 after purchasing an additional 1,358 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Plymouth Industrial REIT Price Performance

PLYM stock opened at $16.94 on Monday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market capitalization of $771.59 million, a P/E ratio of 846.95 and a beta of 1.45. The business’s 50-day moving average is $16.80 and its two-hundred day moving average is $19.19. Plymouth Industrial REIT, Inc. has a 1 year low of $16.06 and a 1 year high of $24.71.

Plymouth Industrial REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date of this dividend is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio is currently 31.37%.

Analyst Ratings Changes

PLYM has been the subject of a number of research analyst reports. Truist Financial cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Barclays lowered their price target on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. JMP Securities reiterated a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Finally, Robert W. Baird lowered their target price on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.44.

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.