State of New Jersey Common Pension Fund D Purchases 6,994 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

State of New Jersey Common Pension Fund D boosted its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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’s holdings in Plymouth Industrial REIT were worth $8,361,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC boosted its position in Plymouth Industrial REIT by 94.6% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 192,243 shares of the company’s stock worth $4,627,000 after purchasing an additional 93,434 shares during the period. Keeley Teton Advisors LLC raised its stake in Plymouth Industrial REIT by 124.8% in the third quarter. Keeley Teton Advisors LLC now owns 165,436 shares of the company’s stock valued at $3,466,000 after purchasing an additional 91,834 shares in the last quarter. Strs Ohio raised its stake in Plymouth Industrial REIT by 60.1% in the fourth quarter. Strs Ohio now owns 127,004 shares of the company’s stock valued at $3,056,000 after purchasing an additional 47,700 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Plymouth Industrial REIT by 53.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 471,532 shares of the company’s stock valued at $9,879,000 after purchasing an additional 164,031 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Plymouth Industrial REIT by 25.8% in the fourth quarter. Jennison Associates LLC now owns 3,949,004 shares of the company’s stock valued at $95,053,000 after purchasing an additional 809,570 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Insider Activity at Plymouth Industrial REIT

In related news, Director Pendleton P. White bought 4,000 shares of Plymouth Industrial REIT stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $21.58 per share, for a total transaction of $86,320.00. Following the completion of the acquisition, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $86,320. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.

Plymouth Industrial REIT Trading Up 0.5 %

Shares of NYSE:PLYM traded up $0.11 during midday trading on Friday, hitting $20.76. 176,526 shares of the stock were exchanged, compared to its average volume of 242,789. The stock has a market capitalization of $942.13 million, a price-to-earnings ratio of 109.26, a P/E/G ratio of 1.56 and a beta of 1.36. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.11 and a current ratio of 0.11. The business’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 12 month low of $19.21 and a 12 month high of $25.55.

Plymouth Industrial REIT Increases Dividend

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

Analysts Set New Price Targets

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

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.