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

New York Life Investment Management LLC boosted its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 69.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,968 shares of the company’s stock after buying an additional 13,050 shares during the quarter. New York Life Investment Management LLC owned approximately 0.07% of Plymouth Industrial REIT worth $769,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in Plymouth Industrial REIT by 2,306.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,155 shares of the company’s stock valued at $28,000 after acquiring an additional 1,107 shares during the period. Signaturefd LLC boosted its stake in Plymouth Industrial REIT by 40.8% during the 4th quarter. Signaturefd LLC now owns 1,731 shares of the company’s stock valued at $42,000 after purchasing an additional 502 shares during the period. Federated Hermes Inc. grew its holdings in Plymouth Industrial REIT by 774.4% in the 4th quarter. Federated Hermes Inc. now owns 1,845 shares of the company’s stock valued at $44,000 after buying an additional 1,634 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Plymouth Industrial REIT by 35.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,559 shares of the company’s stock worth $221,000 after buying an additional 2,762 shares during the period. Finally, SG Americas Securities LLC bought a new position in Plymouth Industrial REIT in the 3rd quarter worth approximately $390,000. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Trading Down 0.8 %

Shares of Plymouth Industrial REIT stock opened at $20.49 on Thursday. Plymouth Industrial REIT, Inc. has a 52-week low of $19.21 and a 52-week high of $25.55. The firm has a market capitalization of $929.84 million, a PE ratio of 47.37, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.12 and a quick ratio of 0.12. The company’s fifty day moving average price is $21.38 and its two-hundred day moving average price is $21.99.

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

Plymouth Industrial REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.69%. The ex-dividend date was 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 (DPR) is 223.26%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays started coverage on shares of Plymouth Industrial REIT in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $22.00 price objective on the stock. Truist Financial dropped their price objective on shares of Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Finally, JMP Securities upgraded 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 research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Insider Activity 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 purchased at an average cost of $21.58 per share, for a total transaction of $86,320.00. Following the completion of the purchase, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $86,320. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is owned by insiders.

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.