Mirae Asset Global Investments Co. Ltd. Grows Stock Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 20.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,003 shares of the company’s stock after buying an additional 3,695 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Plymouth Industrial REIT were worth $530,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its holdings in 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. Spirit of America Management Corp NY acquired a new position in shares of Plymouth Industrial REIT in the 3rd quarter valued at $31,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Plymouth Industrial REIT by 35.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,559 shares of the company’s stock worth $221,000 after buying an additional 2,762 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Plymouth Industrial REIT during the third quarter valued at $390,000. Finally, Teacher Retirement System of Texas grew its position in Plymouth Industrial REIT by 34.3% during the third quarter. Teacher Retirement System of Texas now owns 20,089 shares of the company’s stock valued at $421,000 after buying an additional 5,135 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLYM has been the topic of several recent analyst reports. Barclays initiated coverage on shares of Plymouth Industrial REIT in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 target price on the stock. Truist Financial lowered their price target 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. Finally, JMP Securities upgraded Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Plymouth Industrial REIT Stock Down 0.9 %

PLYM stock opened at $20.65 on Friday. Plymouth Industrial REIT, Inc. has a 52 week low of $19.21 and a 52 week high of $25.55. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.47. The firm has a 50-day simple moving average of $21.57 and a 200-day simple moving average of $21.98. The stock has a market capitalization of $937.10 million, a P/E ratio of 108.68, a P/E/G ratio of 1.58 and a beta of 1.36.

Plymouth Industrial REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.24 per share. This is a positive change from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend is Wednesday, March 27th. Plymouth Industrial REIT’s payout ratio is 505.26%.

Insider Buying and Selling at Plymouth Industrial REIT

In other news, Director Pendleton P. White bought 4,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $21.58 per share, for a total transaction of $86,320.00. Following the completion of the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $86,320. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

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.