Heartland Advisors Inc. Acquires 151,000 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Heartland Advisors Inc. lifted its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 75.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 351,000 shares of the company’s stock after buying an additional 151,000 shares during the quarter. Heartland Advisors Inc.’s holdings in Plymouth Industrial REIT were worth $6,248,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Quarry LP lifted its position in shares of Plymouth Industrial REIT by 88.4% in the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after purchasing an additional 860 shares during the period. Loomis Sayles & Co. L P increased its stake in Plymouth Industrial REIT by 3,130.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after purchasing an additional 1,941 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Plymouth Industrial REIT during the third quarter worth $46,000. Point72 Hong Kong Ltd bought a new position in shares of Plymouth Industrial REIT in the third quarter valued at $123,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Plymouth Industrial REIT during the fourth quarter valued at about $148,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Performance

Shares of NYSE:PLYM opened at $16.84 on Friday. The firm’s 50-day moving average is $16.83 and its 200 day moving average is $18.81. Plymouth Industrial REIT, Inc. has a 12 month low of $16.06 and a 12 month high of $24.71. 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 company has a market capitalization of $766.90 million, a price-to-earnings ratio of 841.80 and a beta of 1.45.

Plymouth Industrial REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 5.70%. The ex-dividend date is Monday, March 31st. Plymouth Industrial REIT’s payout ratio is currently 31.37%.

Wall Street Analyst Weigh In

PLYM has been the topic of several recent research reports. Truist Financial dropped their price target on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Monday, March 24th. JPMorgan Chase & Co. reduced their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Robert W. Baird decreased their price objective on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Wedbush set a $17.00 price target on Plymouth Industrial REIT in a research report on Friday, February 28th. Finally, JMP Securities restated a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Plymouth Industrial REIT presently has a consensus rating of “Hold” and a consensus price target of $22.00.

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.