Legal & General Group Plc Buys 6,119 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Legal & General Group Plc raised its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 17.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,472 shares of the company’s stock after acquiring an additional 6,119 shares during the period. Legal & General Group Plc owned about 0.09% of Plymouth Industrial REIT worth $738,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Barclays PLC increased its position in shares of Plymouth Industrial REIT by 321.2% during the 3rd quarter. Barclays PLC now owns 63,101 shares of the company’s stock worth $1,426,000 after purchasing an additional 48,119 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Plymouth Industrial REIT by 7.4% in the 3rd quarter. Tidal Investments LLC now owns 23,433 shares of the company’s stock worth $530,000 after acquiring an additional 1,614 shares in the last quarter. JPMorgan Chase & Co. grew its position in Plymouth Industrial REIT by 8.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 890,653 shares of the company’s stock worth $20,129,000 after acquiring an additional 66,886 shares during the last quarter. Adams Asset Advisors LLC acquired a new stake in Plymouth Industrial REIT during the 4th quarter valued at $1,068,000. Finally, Hennion & Walsh Asset Management Inc. raised its position in Plymouth Industrial REIT by 30.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 11,628 shares of the company’s stock valued at $207,000 after purchasing an additional 2,697 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Truist Financial reduced their price target on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Monday, March 24th. JPMorgan Chase & Co. dropped their price objective on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. KeyCorp decreased their price objective on Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird decreased their price target on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Finally, Wedbush set a $17.00 target price on shares of Plymouth Industrial REIT in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Plymouth Industrial REIT presently has an average rating of “Hold” and an average price target of $21.20.

Plymouth Industrial REIT Price Performance

Shares of NYSE:PLYM opened at $14.89 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. Plymouth Industrial REIT, Inc. has a 52 week low of $12.70 and a 52 week high of $24.71. The firm has a market cap of $678.25 million, a PE ratio of 744.50 and a beta of 1.19. The firm’s fifty day moving average is $15.87 and its 200-day moving average is $17.53.

Plymouth Industrial REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date of this dividend is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio is presently 31.37%.

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.