Globeflex Capital L P Purchases 44,680 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Globeflex Capital L P boosted its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 33.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 176,482 shares of the company's stock after purchasing an additional 44,680 shares during the quarter. Globeflex Capital L P owned about 0.39% of Plymouth Industrial REIT worth $3,141,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thompson Siegel & Walmsley LLC bought a new position in shares of Plymouth Industrial REIT during the fourth quarter valued at $7,443,000. Vestcor Inc grew its position in Plymouth Industrial REIT by 6.2% during the 4th quarter. Vestcor Inc now owns 39,232 shares of the company's stock valued at $698,000 after purchasing an additional 2,306 shares during the last quarter. Victory Capital Management Inc. increased its stake in Plymouth Industrial REIT by 14.4% during the 4th quarter. Victory Capital Management Inc. now owns 66,000 shares of the company's stock valued at $1,175,000 after purchasing an additional 8,300 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Plymouth Industrial REIT during the 4th quarter valued at about $194,000. Finally, Bank of New York Mellon Corp raised its holdings in Plymouth Industrial REIT by 22.4% in the fourth quarter. Bank of New York Mellon Corp now owns 224,504 shares of the company's stock worth $3,996,000 after buying an additional 41,033 shares during the last quarter. Institutional investors own 92.67% of the company's stock.

Plymouth Industrial REIT Stock Performance

Shares of Plymouth Industrial REIT stock traded up $0.05 during trading hours on Wednesday, reaching $17.49. 344,225 shares of the stock traded hands, compared to its average volume of 282,305. Plymouth Industrial REIT, Inc. has a one year low of $16.06 and a one year high of $24.71. The firm has a market capitalization of $796.78 million, a price-to-earnings ratio of 874.60 and a beta of 1.45. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The company has a 50 day moving average price of $16.81 and a 200 day moving average price of $19.10.

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Plymouth Industrial REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 5.49%. Plymouth Industrial REIT's payout ratio is presently 31.37%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PLYM shares. Truist Financial downgraded shares of Plymouth Industrial REIT from a "buy" rating to a "hold" rating in a research report on Friday, January 17th. Robert W. Baird reduced their target price 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 target 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 research report on Friday, February 28th. Finally, JPMorgan Chase & Co. decreased their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an "underweight" rating for the company in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $22.44.

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.