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

Plymouth Industrial REIT, Inc. (NYSE:PLYM) Director Pendleton P. Jr. White purchased 5,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price 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 of the company’s stock, valued at $91,950. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Plymouth Industrial REIT Stock Performance

NYSE:PLYM traded down $0.02 during mid-day trading on Monday, reaching $18.36. The stock had a trading volume of 375,453 shares, compared to its average volume of 255,899. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.16 and a current ratio of 0.12. The firm has a market capitalization of $833.36 million, a price-to-earnings ratio of 918.00, a PEG ratio of 1.43 and a beta of 1.37. Plymouth Industrial REIT, Inc. has a twelve month low of $18.08 and a twelve month high of $25.55. The business has a 50 day simple moving average of $21.45 and a 200 day simple moving average of $21.96.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 5.23%. Plymouth Industrial REIT’s payout ratio is currently 4,800.00%.

Institutional Investors Weigh In On Plymouth Industrial REIT

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. B. Riley raised their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Wedbush raised their price objective on Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. BNP Paribas lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a report on Friday, November 8th. Truist Financial raised their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Robert W. Baird dropped their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Plymouth Industrial REIT presently has an average rating of “Hold” and a consensus target price of $24.89.

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.