Bank of New York Mellon Corp Buys 41,033 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Bank of New York Mellon Corp boosted its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 22.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 224,504 shares of the company’s stock after buying an additional 41,033 shares during the period. Bank of New York Mellon Corp’s holdings in Plymouth Industrial REIT were worth $3,996,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Quarry LP increased its position in Plymouth Industrial REIT by 88.4% during the third quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after acquiring an additional 860 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Plymouth Industrial REIT by 1.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock valued at $1,064,000 after purchasing an additional 900 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Plymouth Industrial REIT by 2.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company’s stock worth $736,000 after purchasing an additional 952 shares during the period. Rhumbline Advisers raised its position in Plymouth Industrial REIT by 1.4% in the 4th quarter. Rhumbline Advisers now owns 73,529 shares of the company’s stock worth $1,309,000 after purchasing an additional 1,010 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in Plymouth Industrial REIT by 11.4% in the third quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company’s stock worth $290,000 after purchasing an additional 1,317 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Plymouth Industrial REIT Stock Performance

Shares of Plymouth Industrial REIT stock opened at $17.40 on Wednesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. The stock’s fifty day moving average price is $16.81 and its 200-day moving average price is $19.10. The firm has a market cap of $792.59 million, a P/E ratio of 870.00 and a beta of 1.45. Plymouth Industrial REIT, Inc. has a 12 month low of $16.06 and a 12 month high of $24.71.

Plymouth Industrial REIT Announces Dividend

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 given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date of this dividend is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 31.37%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Truist Financial downgraded Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. 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. Robert W. Baird cut their price target on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Finally, Wedbush set a $17.00 price target on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. One investment 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.44.

Plymouth Industrial REIT Company 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.