Meeder Asset Management Inc. Raises Stock Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Meeder Asset Management Inc. boosted its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,087 shares of the company’s stock after buying an additional 1,063 shares during the quarter. Meeder Asset Management Inc. owned 0.16% of Plymouth Industrial REIT worth $1,265,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Quarry LP boosted its position in shares of 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 purchasing an additional 860 shares during the period. Point72 DIFC Ltd acquired a new position in Plymouth Industrial REIT during the third quarter worth $46,000. Point72 Hong Kong Ltd purchased a new position in shares of Plymouth Industrial REIT during the third quarter worth $123,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Plymouth Industrial REIT in the fourth quarter valued at $148,000. Finally, SG Americas Securities LLC lifted its stake in Plymouth Industrial REIT by 15.0% during the 4th quarter. SG Americas Securities LLC now owns 10,390 shares of the company’s stock worth $185,000 after acquiring an additional 1,358 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Plymouth Industrial REIT Stock Performance

NYSE:PLYM opened at $16.84 on Monday. The firm has a market capitalization of $766.90 million, a PE ratio of 841.80 and a beta of 1.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. The business’s fifty day moving average price is $16.83 and its 200 day moving average price is $18.76. Plymouth Industrial REIT, Inc. has a 12 month low of $16.06 and a 12 month high of $24.71.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.70%. The ex-dividend date of this dividend is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 31.37%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wedbush set a $17.00 target price on Plymouth Industrial REIT in a research report on Friday, February 28th. Truist Financial reduced their target price on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Monday, March 24th. JMP Securities restated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. JPMorgan Chase & Co. reduced their price objective on 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. Finally, Robert W. Baird lowered their target price on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.00.

Plymouth Industrial REIT 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.