Plymouth Industrial REIT, Inc. (NYSE:PLYM) is Meros Investment Management LP's 6th Largest Position

Meros Investment Management LP grew its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 38.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 402,923 shares of the company's stock after acquiring an additional 111,339 shares during the quarter. Plymouth Industrial REIT comprises approximately 4.1% of Meros Investment Management LP's portfolio, making the stock its 6th biggest position. Meros Investment Management LP owned approximately 0.89% of Plymouth Industrial REIT worth $8,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Teachers Retirement System bought a new position in shares of Plymouth Industrial REIT during the first quarter valued at $89,000. Garner Asset Management Corp bought a new stake in Plymouth Industrial REIT in the 4th quarter worth about $98,000. EntryPoint Capital LLC increased its holdings in Plymouth Industrial REIT by 33.9% in the 1st quarter. EntryPoint Capital LLC now owns 4,997 shares of the company's stock worth $112,000 after buying an additional 1,266 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in Plymouth Industrial REIT by 431.0% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company's stock worth $202,000 after buying an additional 7,668 shares in the last quarter. Finally, Blue Trust Inc. bought a new stake in Plymouth Industrial REIT in the 2nd quarter worth about $207,000. 92.67% of the stock is currently owned by institutional investors.

Plymouth Industrial REIT Price Performance

Shares of NYSE:PLYM opened at $22.77 on Friday. The firm's 50 day simple moving average is $23.52 and its two-hundred day simple moving average is $22.07. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $1.03 billion, a P/E ratio of 52.95, a P/E/G ratio of 1.71 and a beta of 1.36. Plymouth Industrial REIT, Inc. has a 1-year low of $19.21 and a 1-year high of $25.55.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 4.22%. Plymouth Industrial REIT's payout ratio is 223.26%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PLYM shares. Wedbush lifted their price objective on Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Monday, August 5th. Truist Financial lifted their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a "buy" rating in a report on Wednesday, August 28th. B. Riley boosted their price target on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Barclays upped their target price on shares of Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an "equal weight" rating in a report on Wednesday, August 14th. Finally, BMO Capital Markets cut their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a "market perform" rating for the company 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 issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $25.57.

Insider Activity

In other news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the firm's stock in a transaction on Monday, August 19th. The shares were 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 in the company, valued at approximately $105,503,805.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company's stock.

About Plymouth Industrial REIT

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.

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