Sumitomo Mitsui Trust Holdings Inc. Boosts Stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 6.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,336 shares of the company’s stock after purchasing an additional 2,418 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Plymouth Industrial REIT were worth $1,019,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Plymouth Industrial REIT by 20.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,003 shares of the company’s stock worth $530,000 after purchasing an additional 3,695 shares in the last quarter. International Assets Investment Management LLC boosted its holdings 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. State of Alaska Department of Revenue boosted its holdings in Plymouth Industrial REIT by 2.2% in the 4th quarter. State of Alaska Department of Revenue now owns 20,758 shares of the company’s stock worth $499,000 after buying an additional 447 shares during the period. SG Americas Securities LLC boosted its holdings in Plymouth Industrial REIT by 32.5% in the 4th quarter. SG Americas Securities LLC now owns 24,637 shares of the company’s stock worth $593,000 after buying an additional 6,043 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its holdings in Plymouth Industrial REIT by 5.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 220,035 shares of the company’s stock worth $4,610,000 after buying an additional 11,980 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Plymouth Industrial REIT

In related news, Director Pendleton P. White acquired 4,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was acquired 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 of the company’s stock, valued at $86,320. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

PLYM has been the subject of several recent analyst reports. JMP Securities raised shares of Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 target price for the company in a report on Monday, January 22nd. Barclays initiated coverage on shares of 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, Truist Financial dropped their target price on shares of Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 29th. One investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Plymouth Industrial REIT Stock Down 0.9 %

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

Plymouth Industrial REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders 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 4.65%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. Plymouth Industrial REIT’s dividend payout ratio is 505.26%.

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.