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

Strs Ohio boosted its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 60.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 127,004 shares of the company’s stock after purchasing an additional 47,700 shares during the period. Strs Ohio’s holdings in Plymouth Industrial REIT were worth $3,056,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Holdings Inc. increased its position in Plymouth Industrial REIT by 6.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 42,336 shares of the company’s stock worth $1,019,000 after buying an additional 2,418 shares during the period. International Assets Investment Management LLC increased its position in Plymouth Industrial REIT by 2,306.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,155 shares of the company’s stock worth $28,000 after buying an additional 1,107 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Plymouth Industrial REIT by 20.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,003 shares of the company’s stock valued at $530,000 after purchasing an additional 3,695 shares during the period. State of Alaska Department of Revenue increased its position in shares of Plymouth Industrial REIT by 2.2% during the fourth quarter. State of Alaska Department of Revenue now owns 20,758 shares of the company’s stock valued at $499,000 after purchasing an additional 447 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Plymouth Industrial REIT by 32.5% during the fourth quarter. SG Americas Securities LLC now owns 24,637 shares of the company’s stock valued at $593,000 after purchasing an additional 6,043 shares during the period. 92.67% of the stock is owned by institutional investors.

Plymouth Industrial REIT Price Performance

Shares of PLYM stock opened at $20.06 on Friday. The stock’s fifty day simple moving average is $21.71 and its 200 day simple moving average is $21.97. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market cap of $910.32 million, a price-to-earnings ratio of 105.58, a P/E/G ratio of 1.51 and a beta of 1.36. Plymouth Industrial REIT, Inc. has a one year low of $19.21 and a one year high of $25.55.

Plymouth Industrial REIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.24 dividend. This is a positive change from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. The ex-dividend date is Wednesday, March 27th. This represents a $0.96 annualized dividend and a yield of 4.79%. Plymouth Industrial REIT’s payout ratio is currently 505.26%.

Analyst Ratings Changes

A number of analysts have recently issued reports on PLYM shares. Truist Financial lowered their price objective on 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 started coverage on Plymouth Industrial REIT in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 price objective on the stock. Finally, JMP Securities upgraded Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Plymouth Industrial REIT currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Insider Activity at Plymouth Industrial REIT

In related news, Director Pendleton P. White purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $21.58 per share, with a total value of $86,320.00. Following the purchase, the director now directly owns 4,000 shares in the company, valued at $86,320. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by insiders.

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.