Los Angeles Capital Management LLC Invests $194,000 in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Los Angeles Capital Management LLC bought a new stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,879 shares of the company’s stock, valued at approximately $194,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLYM. Quarry LP increased its position in shares of Plymouth Industrial REIT by 88.4% during the third quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after acquiring an additional 860 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Plymouth Industrial REIT by 3,130.6% during the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after purchasing an additional 1,941 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Plymouth Industrial REIT during the third quarter valued at approximately $46,000. Point72 Hong Kong Ltd bought a new position in Plymouth Industrial REIT in the 3rd quarter worth approximately $123,000. Finally, SG Americas Securities LLC grew its holdings in Plymouth Industrial REIT by 15.0% in the 4th quarter. SG Americas Securities LLC now owns 10,390 shares of the company’s stock worth $185,000 after buying an additional 1,358 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Performance

NYSE:PLYM opened at $17.25 on Thursday. Plymouth Industrial REIT, Inc. has a 1 year low of $16.06 and a 1 year high of $24.71. The firm has a 50 day moving average of $16.92 and a 200-day moving average of $19.58. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $782.91 million, a P/E ratio of 862.45 and a beta of 1.45.

Plymouth Industrial REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date was Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 31.37%.

Wall Street Analyst Weigh In

PLYM has been the subject of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Truist Financial downgraded shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Barclays lowered their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Robert W. Baird lowered their price target on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Plymouth Industrial REIT currently has a consensus rating of “Hold” and an average price target of $23.33.

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.