Polymer Capital Management US LLC Purchases Shares of 13,264 Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Polymer Capital Management US LLC purchased a new position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) in the fourth quarter, HoldingsChannel reports. The firm purchased 13,264 shares of the company’s stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrant Capital Group LLC boosted its holdings in Plymouth Industrial REIT by 38.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock worth $54,000 after buying an additional 844 shares during the period. Quarry LP lifted its position in shares of Plymouth Industrial REIT by 88.4% in 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 in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Plymouth Industrial REIT by 1.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock worth $1,064,000 after acquiring an additional 900 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Plymouth Industrial REIT by 2.4% during the fourth 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 in the last quarter. Finally, Rhumbline Advisers raised its stake in Plymouth Industrial REIT by 1.4% during the 4th quarter. Rhumbline Advisers now owns 73,529 shares of the company’s stock valued at $1,309,000 after purchasing an additional 1,010 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PLYM shares. JPMorgan Chase & Co. lowered their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Barclays decreased their price target on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, March 31st. JMP Securities restated a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. Robert W. Baird decreased their target price on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Finally, Wedbush set a $17.00 price target on Plymouth Industrial REIT in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.56.

Plymouth Industrial REIT Stock Down 5.1 %

NYSE:PLYM opened at $13.99 on Tuesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. Plymouth Industrial REIT, Inc. has a twelve month low of $13.66 and a twelve month high of $24.71. The company has a market cap of $637.08 million, a PE ratio of 699.30 and a beta of 1.19. The company’s 50 day moving average is $16.67 and its two-hundred day moving average is $18.44.

Plymouth Industrial REIT Dividend Announcement

The firm also recently declared 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 6.86%. The ex-dividend date of this dividend is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio is presently 31.37%.

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.