Plymouth Industrial REIT, Inc. (NYSE:PLYM) Stock Position Increased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 347,342 shares of the company’s stock after purchasing an additional 6,994 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.77% of Plymouth Industrial REIT worth $8,361,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PLYM. SG Americas Securities LLC bought a new stake in shares of Plymouth Industrial REIT during the 3rd quarter worth about $390,000. Spirit of America Management Corp NY bought a new stake in shares of Plymouth Industrial REIT during the 3rd quarter worth about $31,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Plymouth Industrial REIT by 35.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,559 shares of the company’s stock worth $221,000 after buying an additional 2,762 shares in the last quarter. Jennison Associates LLC raised its position in shares of Plymouth Industrial REIT by 13.9% during the 3rd quarter. Jennison Associates LLC now owns 3,139,434 shares of the company’s stock worth $65,771,000 after buying an additional 383,336 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of Plymouth Industrial REIT by 34.3% during the 3rd quarter. Teacher Retirement System of Texas now owns 20,089 shares of the company’s stock worth $421,000 after buying an additional 5,135 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Plymouth Industrial REIT Stock Up 0.5 %

PLYM traded up $0.11 on Friday, reaching $20.76. 176,526 shares of the company traded hands, compared to its average volume of 242,789. The stock’s 50 day moving average price is $21.57 and its 200-day moving average price is $21.98. Plymouth Industrial REIT, Inc. has a 52-week low of $19.21 and a 52-week high of $25.55. The company has a market cap of $942.13 million, a price-to-earnings ratio of 109.26, a PEG ratio of 1.56 and a beta of 1.36. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.11 and a quick ratio of 0.11.

Plymouth Industrial REIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.62%. This is an increase from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. The ex-dividend date is Wednesday, March 27th. Plymouth Industrial REIT’s payout ratio is currently 505.26%.

Wall Street Analysts Forecast Growth

PLYM has been the topic of a number of research reports. Truist Financial dropped their target price on shares of Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. JMP Securities upgraded shares of Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a report on Monday, January 22nd. Finally, Barclays started coverage on shares of Plymouth Industrial REIT in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $22.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Plymouth Industrial REIT has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Insiders Place Their Bets

In other Plymouth Industrial REIT news, Director Pendleton P. White bought 4,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $21.58 per share, with a total value of $86,320.00. Following the completion of the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $86,320. The purchase was disclosed in a document filed with the SEC, which is available through this link. 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.