Knights of Columbus Asset Advisors LLC Purchases 93,434 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Knights of Columbus Asset Advisors LLC increased its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 94.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,243 shares of the company’s stock after buying an additional 93,434 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Plymouth Industrial REIT were worth $4,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Plymouth Industrial REIT by 21.3% during the first quarter. Bank of New York Mellon Corp now owns 180,696 shares of the company’s stock worth $4,896,000 after acquiring an additional 31,778 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Plymouth Industrial REIT during the 1st quarter valued at $389,000. Bank of Montreal Can bought a new stake in Plymouth Industrial REIT in the first quarter worth $1,359,000. MetLife Investment Management LLC lifted its stake in Plymouth Industrial REIT by 59.9% in the first quarter. MetLife Investment Management LLC now owns 17,329 shares of the company’s stock worth $470,000 after purchasing an additional 6,490 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Plymouth Industrial REIT by 4.0% during the first quarter. Rhumbline Advisers now owns 45,818 shares of the company’s stock valued at $1,242,000 after buying an additional 1,743 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Trading Up 1.3 %

PLYM opened at $20.33 on Friday. The firm has a market capitalization of $922.58 million, a price-to-earnings ratio of 107.00, a PEG ratio of 1.50 and a beta of 1.36. Plymouth Industrial REIT, Inc. has a one year low of $19.21 and a one year high of $25.55. The business has a 50 day simple moving average of $21.67 and a two-hundred day simple moving average of $21.97. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.11 and a quick ratio of 0.11.

Plymouth Industrial REIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 annualized dividend and a dividend yield of 4.72%. This is a positive change from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. Plymouth Industrial REIT’s dividend payout ratio is currently 505.26%.

Insider Activity

In other news, Director Pendleton P. White acquired 4,000 shares of the stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $21.58 per share, with a total value of $86,320.00. Following the completion of the transaction, the director now owns 4,000 shares of the company’s stock, valued at approximately $86,320. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Plymouth Industrial REIT 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.