Victory Capital Management Inc. Grows Stock Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Victory Capital Management Inc. raised its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 14.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 66,000 shares of the company’s stock after acquiring an additional 8,300 shares during the quarter. Victory Capital Management Inc.’s holdings in Plymouth Industrial REIT were worth $1,175,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP raised its stake in Plymouth Industrial REIT by 88.4% in the third quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after buying an additional 860 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of Plymouth Industrial REIT by 3,130.6% in 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 period. Point72 DIFC Ltd acquired a new position in shares of Plymouth Industrial REIT in the third quarter valued at about $46,000. Point72 Hong Kong Ltd acquired a new position in shares of Plymouth Industrial REIT in the third quarter valued at about $123,000. Finally, SG Americas Securities LLC increased its holdings in shares of Plymouth Industrial REIT by 15.0% in the fourth 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. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Truist Financial lowered Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. 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. Wedbush set a $17.00 price objective on Plymouth Industrial REIT in a report on Friday, February 28th. Finally, Robert W. Baird cut their price objective on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.44.

Plymouth Industrial REIT Stock Up 0.3 %

Plymouth Industrial REIT stock opened at $17.49 on Thursday. The firm has a market cap of $796.78 million, a price-to-earnings ratio of 874.60 and a beta of 1.45. Plymouth Industrial REIT, Inc. has a 52 week low of $16.06 and a 52 week high of $24.71. The business’s 50-day moving average price is $16.82 and its 200 day moving average price is $19.09. The company has a quick ratio of 0.12, a current 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 5.49%. The ex-dividend date of this dividend is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 31.37%.

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.