Heartland Advisors Inc. Grows Stock Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Heartland Advisors Inc. boosted its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 75.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 351,000 shares of the company’s stock after buying an additional 151,000 shares during the quarter. Heartland Advisors Inc. owned approximately 0.77% of Plymouth Industrial REIT worth $6,248,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quarry LP raised its stake in Plymouth Industrial REIT by 88.4% during the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after acquiring an additional 860 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in shares of Plymouth Industrial REIT by 3,130.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock worth $45,000 after acquiring an additional 1,941 shares during the period. Point72 DIFC Ltd purchased a new stake in Plymouth Industrial REIT in the 3rd quarter valued at approximately $46,000. Point72 Hong Kong Ltd acquired a new position in Plymouth Industrial REIT during the third quarter worth $123,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Plymouth Industrial REIT in the 4th quarter worth approximately $148,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PLYM. JMP Securities reiterated a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Wedbush set a $17.00 price target on shares of Plymouth Industrial REIT in a report on Friday, February 28th. JPMorgan Chase & Co. lowered their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Truist Financial decreased their target price on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, March 24th. Finally, Robert W. Baird dropped their price target on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.00.

Plymouth Industrial REIT Trading Up 0.2 %

PLYM opened at $16.84 on Friday. The firm’s fifty day simple moving average is $16.83 and its 200 day simple moving average is $18.81. Plymouth Industrial REIT, Inc. has a 12 month low of $16.06 and a 12 month high of $24.71. The stock has a market capitalization of $766.90 million, a P/E ratio of 841.80 and a beta of 1.45. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42.

Plymouth Industrial REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date 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.