Westwood Holdings Group Inc. Buys 28,272 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Westwood Holdings Group Inc. grew its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,964,075 shares of the company’s stock after purchasing an additional 28,272 shares during the quarter. Westwood Holdings Group Inc. owned about 6.53% of Plymouth Industrial REIT worth $63,372,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLYM. Quadrant Capital Group LLC raised its position in Plymouth Industrial REIT by 77.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,751 shares of the company’s stock worth $42,000 after acquiring an additional 764 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in Plymouth Industrial REIT in the 1st quarter valued at about $89,000. Garner Asset Management Corp acquired a new stake in Plymouth Industrial REIT in the 4th quarter valued at about $98,000. EntryPoint Capital LLC grew its holdings in Plymouth Industrial REIT by 33.9% during the first quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock worth $112,000 after purchasing an additional 1,266 shares during the period. Finally, Blue Trust Inc. acquired a new position in Plymouth Industrial REIT during the second quarter worth approximately $207,000. Institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

PLYM has been the topic of a number of recent analyst reports. Truist Financial boosted their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Barclays raised their target price on shares of Plymouth Industrial REIT from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. decreased their price target on shares of Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. B. Riley raised their price objective on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, BMO Capital Markets decreased their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Plymouth Industrial REIT has an average rating of “Hold” and a consensus target price of $25.57.

Plymouth Industrial REIT Stock Performance

Shares of NYSE:PLYM opened at $22.54 on Friday. Plymouth Industrial REIT, Inc. has a 12-month low of $19.21 and a 12-month high of $25.55. The company’s 50 day moving average price is $23.59 and its two-hundred day moving average price is $22.04. The firm has a market cap of $1.02 billion, a PE ratio of 52.42, a PEG ratio of 1.75 and a beta of 1.36. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.49.

Plymouth Industrial REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date is Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is currently 223.26%.

Insiders Place Their Bets

In other news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the sale, the insider now directly owns 4,474,292 shares of the company’s stock, valued at approximately $105,503,805.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.