Plymouth Industrial REIT, Inc. (NYSE:PLYM) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,353 shares of the company’s stock after purchasing an additional 952 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.09% of Plymouth Industrial REIT worth $736,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PLYM. Quarry LP boosted its stake 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 last quarter. Copeland Capital Management LLC purchased a new position in shares of Plymouth Industrial REIT during the 3rd quarter worth about $43,000. Loomis Sayles & Co. L P lifted its holdings in shares of Plymouth Industrial REIT by 3,130.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock worth $45,000 after acquiring an additional 1,941 shares during the period. Point72 DIFC Ltd purchased a new position in Plymouth Industrial REIT in the third quarter valued at approximately $46,000. Finally, Point72 Hong Kong Ltd purchased a new position in Plymouth Industrial REIT in the third quarter valued at approximately $123,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Plymouth Industrial REIT Stock Performance

NYSE:PLYM opened at $16.66 on Friday. Plymouth Industrial REIT, Inc. has a 1 year low of $16.20 and a 1 year high of $24.71. The firm’s fifty day simple moving average is $17.35 and its 200 day simple moving average is $20.22. 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 firm has a market capitalization of $755.97 million, a PE ratio of 832.75 and a beta of 1.33.

Plymouth Industrial REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.24 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.96 annualized dividend and a yield of 5.76%. Plymouth Industrial REIT’s dividend payout ratio is 4,800.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PLYM. Barclays dropped their price objective on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Truist Financial downgraded shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Robert W. Baird cut their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. cut their target price 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Plymouth Industrial REIT currently has a consensus rating of “Hold” and a consensus price target of $23.89.

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.