Fintel reports that Gamco Investors, Inc. Et Al has filed a 13D/A form with the SEC disclosing ownership of 0.55MM shares of INDUS Realty Trust, Inc. (MD) (INDT). This represents 5.38% of the company.
In their previous filing dated August 29, 2022 they reported 0.52MM shares and 5.09% of the company, an increase in shares of 5.92% and an increase in total ownership of 0.29% (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests 4.87% Upside
As of March 30, 2023, the average one-year price target for INDUS Realty Trust, Inc. is $69.62. The forecasts range from a low of $65.65 to a high of $77.70. The average price target represents an increase of 4.87% from its latest reported closing price of $66.38.
See our leaderboard of companies with the largest price target upside.
What is the Fund Sentiment?
There are 222 funds or institutions reporting positions in INDUS Realty Trust, Inc.. This is an increase of 22 owner(s) or 11.00% in the last quarter. Average portfolio weight of all funds dedicated to INDT is 0.33%, an increase of 8.53%. Total shares owned by institutions increased in the last three months by 1.13% to 8,212K shares. The put/call ratio of INDT is 0.05, indicating a bullish outlook.
What are Other Shareholders Doing?
BBVSX – Bridge Builder Small holds 2K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 2K shares, representing a decrease of 32.81%. The firm decreased its portfolio allocation in INDT by 12.70% over the last quarter.
Bank of New York Mellon holds 31K shares representing 0.30% ownership of the company. In it’s prior filing, the firm reported owning 22K shares, representing an increase of 26.44%. The firm decreased its portfolio allocation in INDT by 72.12% over the last quarter.
Deutsche Bank Ag\ holds 4K shares representing 0.04% ownership of the company. No change in the last quarter.
EQ ADVISORS TRUST – 1290 VT GAMCO Small Company Value Portfolio Class IA holds 336K shares representing 3.30% ownership of the company. In it’s prior filing, the firm reported owning 335K shares, representing an increase of 0.30%. The firm increased its portfolio allocation in INDT by 8.93% over the last quarter.
Sagefield Capital holds 8K shares representing 0.08% ownership of the company.
INDUS Realty Trust, Inc. Declares $0.18 Dividend
On March 15, 2023 the company declared a regular quarterly dividend of $0.18 per share ($0.72 annualized). Shareholders of record as of March 31, 2023 will receive the payment on April 14, 2023. Previously, the company paid $0.18 per share.
At the current share price of $66.38 / share, the stock’s dividend yield is 1.08%. Looking back five years and taking a sample every week, the average dividend yield has been 1.06%, the lowest has been 0.64%, and the highest has been 1.57%. The standard deviation of yields is 0.19 (n=225).
The current dividend yield is 0.13 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 1.20. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.44%, demonstrating that it has increased its dividend over time.
INDUS Realty Trust Background Information
(This description is provided by the company.)
Griffin Industrial Realty, Inc. is a real estate business principally engaged in developing, acquiring, managing and leasing industrial/warehouse properties. Griffin recently completed the sale of an approximately 40,000 square foot office/flex building and currently owns 41 buildings totaling approximately 4.6 million square feet (4.2 million of which is industrial/warehouse space) in Connecticut, Pennsylvania, North Carolina and Florida in addition to over 3,400 acres of undeveloped land.
This article originally appeared on Fintel
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