Legal & General Group Plc Increases Stock Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Legal & General Group Plc raised its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 17.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 41,472 shares of the company’s stock after acquiring an additional 6,119 shares during the period. Legal & General Group Plc’s holdings in Plymouth Industrial REIT were worth $738,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its stake in shares of Plymouth Industrial REIT by 38.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock worth $54,000 after buying an additional 844 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Plymouth Industrial REIT in the fourth quarter worth $148,000. SG Americas Securities LLC grew its stake 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 valued at $185,000 after purchasing an additional 1,358 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Plymouth Industrial REIT during the 4th quarter valued at $194,000. Finally, ZWJ Investment Counsel Inc. bought a new stake in shares of Plymouth Industrial REIT during the 4th quarter worth $203,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wedbush set a $17.00 target price on shares of Plymouth Industrial REIT in a research report on Friday, February 28th. Robert W. Baird decreased their target price on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Barclays dropped their price target on Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Monday, March 31st. JMP Securities reissued a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.20.

Plymouth Industrial REIT Trading Up 1.8 %

Plymouth Industrial REIT stock opened at $14.89 on Tuesday. Plymouth Industrial REIT, Inc. has a 12 month low of $12.70 and a 12 month high of $24.71. 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 business’s fifty day simple moving average is $15.87 and its two-hundred day simple moving average is $17.53. The company has a market capitalization of $678.25 million, a price-to-earnings ratio of 744.50 and a beta of 1.19.

Plymouth Industrial REIT Announces Dividend

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