Plymouth Industrial REIT, Inc. (NYSE:PLYM) Director Purchases $91,950.00 in Stock

Plymouth Industrial REIT, Inc. (NYSE:PLYM) Director Pendleton P. Jr. White purchased 5,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at $91,950. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Plymouth Industrial REIT Stock Up 0.9 %

Shares of PLYM opened at $18.73 on Thursday. Plymouth Industrial REIT, Inc. has a 12 month low of $18.08 and a 12 month high of $25.55. The firm has a market cap of $850.15 million, a P/E ratio of 936.50, a PEG ratio of 1.44 and a beta of 1.37. 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 50 day moving average is $21.28 and its two-hundred day moving average is $21.93.

Plymouth Industrial REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.13%. The ex-dividend date was Monday, September 30th. Plymouth Industrial REIT’s payout ratio is currently 4,800.00%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. BNP Paribas lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target for the company. in a research report on Friday, November 8th. Truist Financial raised their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. JMP Securities reiterated a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. Barclays lowered their price target on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, BMO Capital Markets cut their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Plymouth Industrial REIT has an average rating of “Hold” and a consensus target price of $24.89.

Hedge Funds Weigh In On Plymouth Industrial REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. raised its position in shares of Plymouth Industrial REIT by 10.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,935,803 shares of the company’s stock worth $66,056,000 after buying an additional 286,434 shares during the period. F M Investments LLC purchased a new stake in shares of Plymouth Industrial REIT in the second quarter worth approximately $6,088,000. Millennium Management LLC grew its stake in Plymouth Industrial REIT by 115.6% in the second quarter. Millennium Management LLC now owns 338,894 shares of the company’s stock valued at $7,246,000 after purchasing an additional 181,725 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Plymouth Industrial REIT by 24.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock worth $20,583,000 after purchasing an additional 180,003 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Plymouth Industrial REIT by 4.1% in the 3rd quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock worth $99,471,000 after buying an additional 174,836 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.