Pensionfund Sabic Sells 6,000 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Pensionfund Sabic lessened its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 13.6% in the third quarter, HoldingsChannel.com reports. The firm owned 38,027 shares of the company’s stock after selling 6,000 shares during the quarter. Pensionfund Sabic’s holdings in Plymouth Industrial REIT were worth $859,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Plymouth Industrial REIT by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock valued at $95,943,000 after buying an additional 115,318 shares during the period. Jennison Associates LLC boosted its holdings in shares of Plymouth Industrial REIT by 5.9% during the first quarter. Jennison Associates LLC now owns 4,183,540 shares of the company’s stock worth $94,130,000 after purchasing an additional 234,536 shares during the period. Westwood Holdings Group Inc. grew its stake in shares of Plymouth Industrial REIT by 1.0% in the second quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock worth $63,372,000 after purchasing an additional 28,272 shares during the last quarter. Wellington Management Group LLP increased its holdings in Plymouth Industrial REIT by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 1,669,720 shares of the company’s stock valued at $40,190,000 after purchasing an additional 29,479 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Plymouth Industrial REIT by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company’s stock valued at $11,480,000 after purchasing an additional 4,265 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Trading Down 2.4 %

Plymouth Industrial REIT stock opened at $20.89 on Friday. Plymouth Industrial REIT, Inc. has a one year low of $19.21 and a one year high of $25.55. The business’s fifty day moving average is $23.08 and its 200 day moving average is $22.08. The stock has a market capitalization of $948.41 million, a PE ratio of 38.69, a price-to-earnings-growth ratio of 1.62 and a beta of 1.36. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.16 and a quick ratio of 0.16.

Plymouth Industrial REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.24 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.60%. Plymouth Industrial REIT’s dividend payout ratio is presently 177.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PLYM shares. Truist Financial lifted their price objective 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. B. Riley lifted their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 5th. JMP Securities reissued a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lowered their target price on Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Finally, Barclays upped their price target on Plymouth Industrial REIT from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Plymouth Industrial REIT currently has an average rating of “Hold” and a consensus target price of $25.57.

Insider Activity

In other news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the transaction, the insider now directly owns 4,474,292 shares of the company’s stock, valued at $105,503,805.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by corporate insiders.

Plymouth Industrial REIT Company Profile

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.