Meeder Asset Management Inc. Buys 19,607 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Meeder Asset Management Inc. raised its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 38.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,024 shares of the company’s stock after buying an additional 19,607 shares during the period. Meeder Asset Management Inc. owned about 0.15% of Plymouth Industrial REIT worth $1,583,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PLYM. Copeland Capital Management LLC purchased a new position in Plymouth Industrial REIT in the third quarter worth $43,000. EntryPoint Capital LLC lifted its stake in Plymouth Industrial REIT by 33.9% during the first quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock worth $112,000 after purchasing an additional 1,266 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Plymouth Industrial REIT by 431.0% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock worth $202,000 after purchasing an additional 7,668 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Plymouth Industrial REIT in the 3rd quarter worth about $202,000. Finally, SG Americas Securities LLC bought a new position in shares of Plymouth Industrial REIT during the 3rd quarter valued at about $204,000. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Up 1.2 %

Shares of NYSE:PLYM opened at $18.58 on Wednesday. The stock’s 50-day moving average is $21.36 and its 200 day moving average is $21.95. The company has a market cap of $843.10 million, a PE ratio of 928.75, a P/E/G ratio of 1.43 and a beta of 1.37. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. Plymouth Industrial REIT, Inc. has a 1 year low of $18.08 and a 1 year high of $25.55.

Plymouth Industrial REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 5.17%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 4,800.00%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PLYM shares. B. Riley upped their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Robert W. Baird reduced their target price on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Barclays lowered their price target on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday. BMO Capital Markets reduced their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 28th. Finally, JMP Securities reissued a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Plymouth Industrial REIT has an average rating of “Hold” and an average target price of $24.89.

Insider Activity at Plymouth Industrial REIT

In related news, Director Pendleton P. Jr. White purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost of $18.39 per share, with a total value of $91,950.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $91,950. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey E. Witherell acquired 2,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were purchased at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the completion of the transaction, the chief executive officer now owns 252,248 shares in the company, valued at approximately $4,664,065.52. This represents a 0.80 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by corporate insiders.

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.