Mirae Asset Global Investments Co. Ltd. Buys 3,695 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 20.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,003 shares of the company’s stock after acquiring an additional 3,695 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Plymouth Industrial REIT were worth $530,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. State of Alaska Department of Revenue grew its position in Plymouth Industrial REIT by 2.2% in the 4th quarter. State of Alaska Department of Revenue now owns 20,758 shares of the company’s stock worth $499,000 after purchasing an additional 447 shares during the period. Swiss National Bank lifted its holdings in Plymouth Industrial REIT by 0.9% in the third quarter. Swiss National Bank now owns 85,200 shares of the company’s stock valued at $1,785,000 after acquiring an additional 800 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Plymouth Industrial REIT by 2.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 42,600 shares of the company’s stock worth $892,000 after purchasing an additional 900 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Plymouth Industrial REIT by 2,306.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,155 shares of the company’s stock valued at $28,000 after purchasing an additional 1,107 shares during the last quarter. Finally, Spirit of America Management Corp NY purchased a new position in shares of Plymouth Industrial REIT in the third quarter worth approximately $31,000. 92.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Pendleton P. White acquired 4,000 shares of Plymouth Industrial REIT stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $21.58 per share, for a total transaction of $86,320.00. Following the completion of the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $86,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by insiders.

Plymouth Industrial REIT Price Performance

NYSE:PLYM opened at $20.65 on Friday. The business’s 50-day simple moving average is $21.57 and its two-hundred day simple moving average is $21.98. Plymouth Industrial REIT, Inc. has a 52 week low of $19.21 and a 52 week high of $25.55. The stock has a market cap of $937.10 million, a PE ratio of 108.68, a P/E/G ratio of 1.58 and a beta of 1.36. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.47.

Plymouth Industrial REIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 505.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays started coverage on Plymouth Industrial REIT in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $22.00 price objective for the company. Truist Financial decreased their price objective on Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Finally, JMP Securities raised Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.00.

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.