F M Investments LLC Makes New $6.09 Million Investment in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

F M Investments LLC acquired a new stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 284,758 shares of the company’s stock, valued at approximately $6,088,000. F M Investments LLC owned about 0.63% of Plymouth Industrial REIT as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PLYM. International Assets Investment Management LLC lifted its position in Plymouth Industrial REIT by 2,306.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,155 shares of the company’s stock worth $28,000 after buying an additional 1,107 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Plymouth Industrial REIT by 774.4% in the fourth quarter. Federated Hermes Inc. now owns 1,845 shares of the company’s stock valued at $44,000 after acquiring an additional 1,634 shares during the last quarter. Signaturefd LLC raised its holdings in Plymouth Industrial REIT by 40.8% during the fourth quarter. Signaturefd LLC now owns 1,731 shares of the company’s stock worth $42,000 after acquiring an additional 502 shares in the last quarter. New York Life Investment Management LLC boosted its position in Plymouth Industrial REIT by 69.0% during the fourth quarter. New York Life Investment Management LLC now owns 31,968 shares of the company’s stock valued at $769,000 after purchasing an additional 13,050 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Plymouth Industrial REIT by 19.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 562,177 shares of the company’s stock valued at $13,532,000 after purchasing an additional 90,645 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

PLYM has been the topic of a number of analyst reports. JMP Securities reissued a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a report on Wednesday. JPMorgan Chase & Co. cut their price target on shares of 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. Barclays boosted their price objective on shares of 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. Wedbush raised their target price on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, BMO Capital Markets reduced their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $25.57.

Insider Buying and Selling at Plymouth Industrial REIT

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were 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. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Plymouth Industrial REIT Stock Performance

Shares of PLYM traded up $0.24 during trading hours on Friday, hitting $23.94. The company had a trading volume of 340,691 shares, compared to its average volume of 233,112. Plymouth Industrial REIT, Inc. has a 12 month low of $19.21 and a 12 month high of $25.55. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 55.12, a PEG ratio of 1.77 and a beta of 1.36. The business has a fifty day moving average of $23.05 and a 200-day moving average of $21.90. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.49.

Plymouth Industrial REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend was Friday, June 28th. Plymouth Industrial REIT’s payout ratio is 223.26%.

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.