MetLife Investment Management LLC Acquires 630,624 Shares of Plymouth Industrial REIT $PLYM

Key Points

• MetLife Investment Management LLC significantly increased its holdings in Plymouth Industrial REIT by 2,406.8%, acquiring an additional 630,624 shares to own approximately 1.44% of the company, valued at $10.7 million.
• As of now, 92.67% of Plymouth Industrial REIT's stock is owned by institutional investors, indicating strong interest from large financial groups.
• Plymouth Industrial REIT's latest quarterly earnings report showed an EPS of $0.46, exceeding estimates, and it recently declared a quarterly dividend of $0.24, reflecting a 4.5% yield.

MetLife Investment Management LLC raised its holdings in Plymouth Industrial REIT (NYSE:PLYM - Free Report) by 2,406.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 656,826 shares of the company's stock after acquiring an additional 630,624 shares during the period. MetLife Investment Management LLC owned about 1.44% of Plymouth Industrial REIT worth $10,706,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Plymouth Industrial REIT by 6,862.5% during the first quarter. GAMMA Investing LLC now owns 3,342 shares of the company's stock worth $54,000 after buying an additional 3,294 shares during the period. Legal & General Group Plc boosted its position 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. Janney Montgomery Scott LLC acquired a new position in shares of Plymouth Industrial REIT during the first quarter worth about $408,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Plymouth Industrial REIT by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company's stock valued at $406,000 after purchasing an additional 817 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Plymouth Industrial REIT by 7.8% during the 1st quarter. Russell Investments Group Ltd. now owns 128,593 shares of the company's stock worth $2,096,000 after purchasing an additional 9,340 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on PLYM. Robert W. Baird cut their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. BMO Capital Markets increased their price objective on Plymouth Industrial REIT from $17.00 to $24.00 and gave the company a "market perform" rating in a report on Thursday, August 21st. Wedbush upgraded Plymouth Industrial REIT to a "hold" rating in a research note on Wednesday, July 2nd. Citizens Jmp lowered Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Finally, Truist Financial increased their target price on Plymouth Industrial REIT from $18.00 to $21.00 and gave the stock a "hold" rating in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $20.67.

Plymouth Industrial REIT Stock Performance

Shares of NYSE PLYM traded up $0.06 during trading hours on Friday, reaching $22.04. 717,682 shares of the stock were exchanged, compared to its average volume of 1,242,560. The firm has a market capitalization of $981.66 million, a price-to-earnings ratio of 7.65 and a beta of 1.11. Plymouth Industrial REIT has a 52 week low of $12.70 and a 52 week high of $23.97. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.13 and a current ratio of 0.13. The stock's fifty day simple moving average is $16.56 and its 200 day simple moving average is $16.18.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. The business had revenue of $47.20 million for the quarter, compared to the consensus estimate of $46.20 million. Plymouth Industrial REIT had a return on equity of 24.24% and a net margin of 67.77%. Sell-side analysts predict that Plymouth Industrial REIT will post 1.83 EPS for the current year.

Plymouth Industrial REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.96 annualized dividend and a dividend yield of 4.4%. Plymouth Industrial REIT's dividend payout ratio (DPR) is 33.33%.

Plymouth Industrial REIT Company 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.