Strs Ohio Buys 47,700 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Strs Ohio grew its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 60.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,004 shares of the company's stock after purchasing an additional 47,700 shares during the quarter. Strs Ohio owned approximately 0.28% of Plymouth Industrial REIT worth $3,056,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PLYM. International Assets Investment Management LLC boosted its position in shares of Plymouth Industrial REIT by 2,306.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,155 shares of the company's stock valued at $28,000 after acquiring an additional 1,107 shares during the period. State of Wyoming acquired a new position in shares of Plymouth Industrial REIT during the second quarter valued at about $29,000. Spirit of America Management Corp NY bought a new stake in shares of Plymouth Industrial REIT in the third quarter valued at about $31,000. Tower Research Capital LLC TRC grew its holdings in shares of Plymouth Industrial REIT by 73.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,337 shares of the company's stock worth $39,000 after purchasing an additional 989 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Plymouth Industrial REIT during the third quarter worth $53,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Plymouth Industrial REIT Price Performance

NYSE PLYM traded up $0.27 during trading hours on Friday, reaching $20.33. 239,394 shares of the company's stock were exchanged, compared to its average volume of 242,703. The firm has a fifty day moving average of $21.71 and a 200-day moving average of $21.97. Plymouth Industrial REIT, Inc. has a one year low of $19.21 and a one year high of $25.55. The stock has a market cap of $922.58 million, a PE ratio of 105.58, a price-to-earnings-growth ratio of 1.51 and a beta of 1.36. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.47.

Plymouth Industrial REIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from Plymouth Industrial REIT's previous quarterly dividend of $0.23. Plymouth Industrial REIT's dividend payout ratio is presently 505.26%.

Insider Activity

In related news, Director Pendleton P. White acquired 4,000 shares of the firm's stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $21.58 per share, with a total value of $86,320.00. Following the acquisition, the director now directly owns 4,000 shares in the company, valued at $86,320. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Truist Financial decreased their target price on shares of Plymouth Industrial REIT from $26.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday, February 29th. Barclays assumed coverage on Plymouth Industrial REIT in a report on Wednesday, March 27th. They issued an "equal weight" rating and a $22.00 target price for the company. Finally, JMP Securities raised Plymouth Industrial REIT from a "market perform" rating to an "outperform" rating and set a $27.00 price target on the stock in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $25.00.

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.