MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income Acquires 85,817 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income raised its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYMGet Rating) by 25.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 421,462 shares of the company’s stock after buying an additional 85,817 shares during the period. Plymouth Industrial REIT comprises about 1.3% of MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s investment portfolio, making the stock its 26th biggest holding. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income owned approximately 1.11% of Plymouth Industrial REIT worth $11,422,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PLYM. Loomis Sayles & Co. L P purchased a new stake in Plymouth Industrial REIT during the 4th quarter valued at $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Plymouth Industrial REIT in the 1st quarter worth about $33,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Plymouth Industrial REIT in the 1st quarter worth about $81,000. Point72 Hong Kong Ltd lifted its position in shares of Plymouth Industrial REIT by 443.8% in the 4th quarter. Point72 Hong Kong Ltd now owns 3,703 shares of the company’s stock worth $118,000 after purchasing an additional 3,022 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Plymouth Industrial REIT in the 4th quarter worth about $167,000. Hedge funds and other institutional investors own 86.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PLYM. B. Riley dropped their target price on shares of Plymouth Industrial REIT from $32.00 to $29.00 in a research report on Thursday, May 12th. Truist Financial dropped their target price on shares of Plymouth Industrial REIT from $30.00 to $24.00 and set a “hold” rating for the company in a research report on Wednesday, May 18th. KeyCorp decreased their price target on shares of Plymouth Industrial REIT from $32.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, June 28th. Finally, JMP Securities lowered shares of Plymouth Industrial REIT from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 18th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.33.

Plymouth Industrial REIT Stock Down 1.8 %

NYSE:PLYM traded down $0.37 on Friday, reaching $19.71. 201,090 shares of the stock traded hands, compared to its average volume of 188,027. The company has a market capitalization of $790.96 million, a price-to-earnings ratio of -23.75, a PEG ratio of 1.59 and a beta of 1.28. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.84. Plymouth Industrial REIT, Inc. has a 12 month low of $17.04 and a 12 month high of $32.37. The company’s fifty day simple moving average is $18.50 and its 200 day simple moving average is $23.10.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $0.88 dividend on an annualized basis and a yield of 4.46%. Plymouth Industrial REIT’s dividend payout ratio is currently -106.02%.

Plymouth Industrial REIT Profile

(Get Rating)

Plymouth Industrial REIT, Inc is a vertically integrated and self-managed real estate investment trust focused on the acquisition and operation of single and multi-tenant industrial properties located in secondary and select primary markets across the United States. The Company seeks to acquire properties that provide income and growth that enable the Company to leverage its real estate operating expertise to enhance shareholder value through active asset management, prudent property re-positioning and disciplined capital deployment.

Further Reading

Institutional Ownership by Quarter for Plymouth Industrial REIT (NYSE:PLYM)

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