Meeder Asset Management Inc. Increases Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Meeder Asset Management Inc. increased its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,087 shares of the company’s stock after buying an additional 1,063 shares during the quarter. Meeder Asset Management Inc.’s holdings in Plymouth Industrial REIT were worth $1,265,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Plymouth Industrial REIT by 321.2% in the 3rd quarter. Barclays PLC now owns 63,101 shares of the company’s stock valued at $1,426,000 after purchasing an additional 48,119 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Plymouth Industrial REIT by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock worth $23,685,000 after purchasing an additional 29,924 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Plymouth Industrial REIT by 137.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,201 shares of the company’s stock valued at $1,519,000 after buying an additional 38,850 shares during the last quarter. Captrust Financial Advisors acquired a new position in Plymouth Industrial REIT in the 3rd quarter valued at $248,000. Finally, Charles Schwab Investment Management Inc. raised its position in Plymouth Industrial REIT by 24.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock worth $20,583,000 after buying an additional 180,003 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

PLYM has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Monday, March 24th. Robert W. Baird reduced their price target on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. JPMorgan Chase & Co. reduced their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Finally, Wedbush set a $17.00 target price on shares of Plymouth Industrial REIT in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.00.

Plymouth Industrial REIT Stock Up 0.2 %

Plymouth Industrial REIT stock opened at $16.84 on Monday. The firm has a market capitalization of $766.90 million, a price-to-earnings ratio of 841.80 and a beta of 1.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. Plymouth Industrial REIT, Inc. has a fifty-two week low of $16.06 and a fifty-two week high of $24.71. The stock’s fifty day moving average is $16.83 and its two-hundred day moving average is $18.76.

Plymouth Industrial REIT Dividend Announcement

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