Plymouth Industrial REIT, Inc. (NYSE:PLYM) Shares Sold by Meros Investment Management LP

Meros Investment Management LP reduced its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 8.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 367,134 shares of the company’s stock after selling 35,789 shares during the quarter. Plymouth Industrial REIT comprises about 3.8% of Meros Investment Management LP’s holdings, making the stock its 8th largest position. Meros Investment Management LP owned approximately 0.81% of Plymouth Industrial REIT worth $8,297,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PLYM. Jennison Associates LLC boosted its stake in shares of Plymouth Industrial REIT by 4.1% in the third quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock valued at $99,471,000 after buying an additional 174,836 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Plymouth Industrial REIT by 1.0% during the 2nd 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 period. State Street Corp increased its holdings in shares of Plymouth Industrial REIT by 1.4% in the 3rd quarter. State Street Corp now owns 1,223,747 shares of the company’s stock valued at $27,949,000 after purchasing an additional 16,398 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 period. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 buying an additional 180,003 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity at Plymouth Industrial REIT

In other news, Director Pendleton P. Jr. White purchased 5,000 shares of the company’s stock in a transaction on 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 completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at $91,950. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey E. Witherell acquired 2,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $18.49 per share, with a total value of $36,980.00. Following the acquisition, the chief executive officer now owns 252,248 shares of the company’s stock, valued at approximately $4,664,065.52. This trade represents a 0.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

PLYM has been the topic of a number of research reports. Truist Financial lowered their price target on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Barclays dropped their price target on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. BMO Capital Markets decreased their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 28th. BNP Paribas cut shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research note on Friday, November 8th. Finally, Robert W. Baird cut 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.33.

Plymouth Industrial REIT Stock Performance

Shares of NYSE PLYM opened at $18.83 on Wednesday. The company has a 50-day simple moving average of $20.14 and a 200-day simple moving average of $21.73. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market cap of $854.67 million, a PE ratio of 941.50, a price-to-earnings-growth ratio of 1.44 and a beta of 1.34. Plymouth Industrial REIT, Inc. has a 12 month low of $18.08 and a 12 month high of $25.55.

Plymouth Industrial REIT Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend was Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is currently 4,800.00%.

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.