Wedbush Securities Inc. Acquires Shares of 13,723 Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Wedbush Securities Inc. acquired a new position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,723 shares of the company’s stock, valued at approximately $244,000.

A number of other large investors have also recently made changes to their positions in PLYM. KLP Kapitalforvaltning AS purchased a new position in Plymouth Industrial REIT in the fourth quarter worth about $148,000. SG Americas Securities LLC lifted its stake in shares of Plymouth Industrial REIT by 15.0% in the 4th quarter. SG Americas Securities LLC now owns 10,390 shares of the company’s stock valued at $185,000 after purchasing an additional 1,358 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Plymouth Industrial REIT in the 4th quarter worth approximately $194,000. Captrust Financial Advisors bought a new position in shares of Plymouth Industrial REIT during the 3rd quarter valued at approximately $248,000. Finally, Verition Fund Management LLC bought a new stake in Plymouth Industrial REIT in the third quarter worth $254,000. 92.67% of the stock is currently owned by institutional investors.

Plymouth Industrial REIT Stock Performance

Shares of Plymouth Industrial REIT stock opened at $13.72 on Friday. 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 stock’s fifty day moving average price is $16.37 and its 200-day moving average price is $18.19. The firm has a market cap of $625.01 million, a P/E ratio of 686.05 and a beta of 1.19. Plymouth Industrial REIT, Inc. has a 12 month low of $12.70 and a 12 month high of $24.71.

Plymouth Industrial REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 7.00%. Plymouth Industrial REIT’s dividend payout ratio is currently 31.37%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. KeyCorp cut their price target on shares of Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday. Truist Financial cut their target price on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Monday, March 24th. Barclays decreased their price target on Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating for the company in a research note on Monday, March 31st. Wedbush set a $17.00 target price on Plymouth Industrial REIT in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.20.

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.