New York Life Investment Management LLC Has $769,000 Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

New York Life Investment Management LLC grew its holdings in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 69.0% in the 4th quarter, Holdings Channel reports. The fund owned 31,968 shares of the company’s stock after buying an additional 13,050 shares during the period. New York Life Investment Management LLC’s holdings in Plymouth Industrial REIT were worth $769,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC grew its position in Plymouth Industrial REIT by 94.6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 192,243 shares of the company’s stock worth $4,627,000 after acquiring an additional 93,434 shares during the last quarter. Keeley Teton Advisors LLC raised its stake in shares of Plymouth Industrial REIT by 124.8% during the third quarter. Keeley Teton Advisors LLC now owns 165,436 shares of the company’s stock valued at $3,466,000 after acquiring an additional 91,834 shares during the last quarter. Strs Ohio grew its stake in shares of Plymouth Industrial REIT by 60.1% in the fourth quarter. Strs Ohio now owns 127,004 shares of the company’s stock worth $3,056,000 after purchasing an additional 47,700 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Plymouth Industrial REIT by 53.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 471,532 shares of the company’s stock valued at $9,879,000 after purchasing an additional 164,031 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Plymouth Industrial REIT by 25.8% in the fourth quarter. Jennison Associates LLC now owns 3,949,004 shares of the company’s stock valued at $95,053,000 after buying an additional 809,570 shares during the period. Institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PLYM. JMP Securities upgraded Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a report on Monday, January 22nd. Barclays started coverage on shares of Plymouth Industrial REIT in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 price objective for the company. Finally, Truist Financial cut their price target 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. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Plymouth Industrial REIT currently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Insider Buying and Selling

In other Plymouth Industrial REIT news, Director Pendleton P. White acquired 4,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $21.58 per share, with a total value of $86,320.00. Following the completion of the purchase, the director now owns 4,000 shares of the company’s stock, valued at $86,320. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

Plymouth Industrial REIT Trading Down 0.8 %

PLYM opened at $20.49 on Thursday. The company has a fifty day moving average price of $21.38 and a two-hundred day moving average price of $21.99. Plymouth Industrial REIT, Inc. has a 1-year low of $19.21 and a 1-year high of $25.55. The company has a market cap of $929.84 million, a P/E ratio of 47.37, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.46.

Plymouth Industrial REIT (NYSE:PLYM) last issued its earnings results on Wednesday, May 1st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.33). Plymouth Industrial REIT had a net margin of 11.42% and a return on equity of 4.74%. The firm had revenue of $50.23 million during the quarter, compared to the consensus estimate of $50.73 million. During the same period in the previous year, the firm earned $0.45 earnings per share. Analysts predict that Plymouth Industrial REIT, Inc. will post 1.91 EPS for the current fiscal year.

Plymouth Industrial REIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.69%. This is a positive change from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Wednesday, March 27th. Plymouth Industrial REIT’s dividend payout ratio is presently 223.26%.

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.