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

Jacobs Levy Equity Management Inc. bought a new position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,840 shares of the company's stock, valued at approximately $389,000.

Other hedge funds have also made changes to their positions in the company. Legal & General Group Plc boosted its stake in shares of Plymouth Industrial REIT by 17.3% during the fourth quarter. Legal & General Group Plc now owns 41,472 shares of the company's stock worth $738,000 after buying an additional 6,119 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in Plymouth Industrial REIT by 30.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 11,628 shares of the company's stock valued at $207,000 after purchasing an additional 2,697 shares during the period. Rhumbline Advisers lifted its position in Plymouth Industrial REIT by 1.4% in the fourth quarter. Rhumbline Advisers now owns 73,529 shares of the company's stock valued at $1,309,000 after purchasing an additional 1,010 shares during the period. Asset Management One Co. Ltd. lifted its position in Plymouth Industrial REIT by 4.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 57,243 shares of the company's stock valued at $1,015,000 after purchasing an additional 2,408 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Plymouth Industrial REIT by 2.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company's stock valued at $736,000 after purchasing an additional 952 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

Plymouth Industrial REIT Trading Down 0.2%

Shares of Plymouth Industrial REIT stock opened at $16.54 on Friday. Plymouth Industrial REIT, Inc. has a 12-month low of $12.70 and a 12-month high of $24.71. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. The stock has a market cap of $753.55 million, a PE ratio of 827.20 and a beta of 1.11. The company has a 50-day moving average of $15.53 and a two-hundred day moving average of $17.02.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.44 earnings per share (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 company had revenue of $45.57 million during the quarter, compared to analysts' expectations of $47.69 million. On average, research analysts anticipate that Plymouth Industrial REIT, Inc. will post 1.83 EPS for the current fiscal year.

Plymouth Industrial REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.80%. Plymouth Industrial REIT's dividend payout ratio (DPR) is 31.48%.

Analysts Set New Price Targets

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

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.

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