Jacobs Levy Equity Management Inc. Takes $389,000 Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Jacobs Levy Equity Management Inc. acquired a new position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 21,840 shares of the company's stock, valued at approximately $389,000.

Other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in shares of Plymouth Industrial REIT by 38.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company's stock valued at $54,000 after buying an additional 844 shares during the period. Quarry LP boosted its stake in shares of Plymouth Industrial REIT by 74.1% in the fourth quarter. Quarry LP now owns 3,191 shares of the company's stock valued at $57,000 after buying an additional 1,358 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Plymouth Industrial REIT in the fourth quarter valued at approximately $148,000. SG Americas Securities LLC boosted its stake in shares of Plymouth Industrial REIT by 15.0% in the fourth quarter. SG Americas Securities LLC now owns 10,390 shares of the company's stock valued at $185,000 after buying an additional 1,358 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Plymouth Industrial REIT in the fourth quarter valued at approximately $194,000. Institutional investors own 92.67% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wedbush set a $17.00 price target on Plymouth Industrial REIT in a research note on Friday, February 28th. Robert W. Baird cut their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. KeyCorp cut their target price on Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Barclays cut their target price on Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating for the company in a research note on Monday, March 31st. Finally, Truist Financial cut their target price on Plymouth Industrial REIT from $20.00 to $18.00 and set a "hold" rating for the company in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $21.10.

Plymouth Industrial REIT Price Performance

Shares of PLYM traded down $0.06 during trading hours on Friday, reaching $15.95. The stock had a trading volume of 259,196 shares, compared to its average volume of 318,484. Plymouth Industrial REIT, Inc. has a 12 month low of $12.70 and a 12 month high of $24.71. The stock has a market capitalization of $726.26 million, a PE ratio of 797.25 and a beta of 1.11. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. The company's 50-day moving average is $15.44 and its two-hundred day moving average is $16.90.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). Plymouth Industrial REIT had a net margin of 0.46% and a return on equity of 0.20%. The firm had revenue of $45.57 million during the quarter, compared to the consensus estimate of $47.69 million. Research analysts expect that Plymouth Industrial REIT, Inc. will post 1.83 EPS for the current year.

Plymouth Industrial REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date was Monday, March 31st. Plymouth Industrial REIT's payout ratio is 31.48%.

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.