Boston Partners Cuts Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Boston Partners trimmed its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 46.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,694 shares of the company’s stock after selling 24,843 shares during the period. Boston Partners owned about 0.06% of Plymouth Industrial REIT worth $511,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Barclays PLC increased its stake in shares of Plymouth Industrial REIT by 321.2% during the third quarter. Barclays PLC now owns 63,101 shares of the company’s stock worth $1,426,000 after buying an additional 48,119 shares during the period. Geode Capital Management LLC increased its stake in Plymouth Industrial REIT by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock valued at $23,685,000 after purchasing an additional 29,924 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Plymouth Industrial REIT by 137.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,201 shares of the company’s stock valued at $1,519,000 after purchasing an additional 38,850 shares during the last quarter. Captrust Financial Advisors purchased a new position in Plymouth Industrial REIT in the third quarter valued at approximately $248,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Plymouth Industrial REIT by 24.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock valued at $20,583,000 after purchasing an additional 180,003 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Plymouth Industrial REIT Price Performance

PLYM stock opened at $17.05 on Friday. The company has a market capitalization of $776.42 million, a P/E ratio of 852.25 and a beta of 1.45. Plymouth Industrial REIT, Inc. has a twelve month low of $16.06 and a twelve month high of $24.71. The business has a 50 day simple moving average of $16.84 and a 200-day simple moving average of $19.00. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42.

Plymouth Industrial REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.63%. The ex-dividend date is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio is presently 31.37%.

Analyst Upgrades and Downgrades

Several brokerages have commented on PLYM. JMP Securities reiterated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Robert W. Baird dropped their price target on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. JPMorgan Chase & Co. dropped their price target on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Wedbush set a $17.00 price target on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. Finally, Truist Financial lowered shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.44.

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.