Point72 Hong Kong Ltd Purchases New Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Point72 Hong Kong Ltd acquired a new position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,421 shares of the company’s stock, valued at approximately $123,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tidal Investments LLC raised its position in shares of Plymouth Industrial REIT by 5.8% in the 1st quarter. Tidal Investments LLC now owns 19,915 shares of the company’s stock valued at $448,000 after purchasing an additional 1,088 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Plymouth Industrial REIT by 11.4% in the third quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company’s stock worth $290,000 after buying an additional 1,317 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Plymouth Industrial REIT by 17.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,008 shares of the company’s stock valued at $293,000 after acquiring an additional 1,892 shares in the last quarter. Copeland Capital Management LLC acquired a new stake in shares of Plymouth Industrial REIT in the 3rd quarter valued at about $43,000. Finally, Loomis Sayles & Co. L P lifted its holdings in Plymouth Industrial REIT by 3,130.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock worth $45,000 after buying an additional 1,941 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Transactions at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White bought 5,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were bought at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $91,950. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey E. Witherell purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $18.49 per share, with a total value of $36,980.00. Following the completion of the acquisition, the chief executive officer now owns 252,248 shares of the company’s stock, valued at $4,664,065.52. This trade represents a 0.80 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.

Plymouth Industrial REIT Trading Down 1.9 %

NYSE:PLYM opened at $18.46 on Wednesday. The stock has a fifty day simple moving average of $20.62 and a 200 day simple moving average of $21.82. The firm has a market capitalization of $837.90 million, a price-to-earnings ratio of 923.00, a price-to-earnings-growth ratio of 1.47 and a beta of 1.34. Plymouth Industrial REIT, Inc. has a 1-year low of $18.08 and a 1-year high of $25.55. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42.

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 given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.20%. The ex-dividend date was Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 4,800.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PLYM shares. BNP Paribas lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research report on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. Robert W. Baird decreased their target price on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. BMO Capital Markets dropped their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 28th. Finally, Truist Financial reduced their price objective on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Plymouth Industrial REIT currently has an average rating of “Hold” and a consensus price target of $24.33.

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.