New York State Teachers Retirement System Invests $60,000 in Plymouth Industrial REIT (NYSE:PLYM)

New York State Teachers Retirement System purchased a new stake in Plymouth Industrial REIT (NYSE:PLYM) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,667 shares of the company’s stock, valued at approximately $60,000.

Other large investors have also added to or reduced their stakes in the company. Copeland Capital Management LLC lifted its position in shares of Plymouth Industrial REIT by 79.9% during the 1st quarter. Copeland Capital Management LLC now owns 3,509 shares of the company’s stock valued at $57,000 after acquiring an additional 1,558 shares during the period. Advisor Resource Council acquired a new stake in Plymouth Industrial REIT during the first quarter worth about $643,000. Adams Asset Advisors LLC increased its holdings in Plymouth Industrial REIT by 29.6% in the 1st quarter. Adams Asset Advisors LLC now owns 77,732 shares of the company’s stock valued at $1,267,000 after buying an additional 17,732 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Plymouth Industrial REIT in the 1st quarter valued at approximately $408,000. Finally, GAMMA Investing LLC raised its position in shares of Plymouth Industrial REIT by 6,862.5% in the 1st quarter. GAMMA Investing LLC now owns 3,342 shares of the company’s stock valued at $54,000 after buying an additional 3,294 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Performance

Shares of PLYM stock opened at $16.13 on Friday. The stock has a market capitalization of $734.72 million, a PE ratio of 5.29 and a beta of 1.11. The business’s 50 day simple moving average is $16.17 and its 200 day simple moving average is $16.28. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.27 and a quick ratio of 0.27. Plymouth Industrial REIT has a one year low of $12.70 and a one year high of $24.71.

Plymouth Industrial REIT (NYSE:PLYM) last announced its earnings results on Thursday, May 1st. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Plymouth Industrial REIT had a return on equity of 26.42% and a net margin of 71.08%. The firm had revenue of $45.57 million for the quarter, compared to the consensus estimate of $47.69 million. As a group, research analysts forecast that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend is Monday, June 30th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 31.48%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PLYM. KeyCorp decreased their price objective on shares of Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Truist Financial dropped their price objective on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Monday, March 24th. Wedbush upgraded Plymouth Industrial REIT to a “hold” rating in a research report on Wednesday, July 2nd. Barclays lowered their target price on Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating for the company in a research note on Monday, March 31st. Finally, Wall Street Zen lowered shares of Plymouth Industrial REIT from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.10.

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.