Plymouth Industrial REIT, Inc. (NYSE:PLYM) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,308,256 shares of the company’s stock after selling 93,128 shares during the quarter. Jennison Associates LLC owned approximately 9.49% of Plymouth Industrial REIT worth $76,687,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in shares of Plymouth Industrial REIT by 15.0% in the 4th quarter. SG Americas Securities LLC now owns 10,390 shares of the company’s stock valued at $185,000 after buying an additional 1,358 shares during the period. ZWJ Investment Counsel Inc. purchased a new stake in shares of Plymouth Industrial REIT during the fourth quarter worth $203,000. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Plymouth Industrial REIT by 30.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 11,628 shares of the company’s stock valued at $207,000 after buying an additional 2,697 shares during the period. Adams Asset Advisors LLC purchased a new stake in shares of Plymouth Industrial REIT in the 4th quarter valued at approximately $1,068,000. Finally, JPMorgan Chase & Co. raised its stake in Plymouth Industrial REIT by 8.1% in the third quarter. JPMorgan Chase & Co. now owns 890,653 shares of the company’s stock valued at $20,129,000 after buying an additional 66,886 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Plymouth Industrial REIT news, CEO Jeffrey E. Witherell acquired 2,000 shares of Plymouth Industrial REIT stock in a transaction dated Friday, November 15th. The stock was bought at an average cost 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. The trade was a 0.80 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pendleton P. Jr. White bought 5,000 shares of Plymouth Industrial REIT stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at $91,950. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by corporate insiders.

Plymouth Industrial REIT Stock Performance

Shares of NYSE PLYM opened at $16.80 on Tuesday. The stock’s fifty day simple moving average is $17.73 and its 200 day simple moving average is $20.64. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $762.72 million, a price-to-earnings ratio of 840.20 and a beta of 1.34. Plymouth Industrial REIT, Inc. has a 52-week low of $16.33 and a 52-week high of $24.71.

Plymouth Industrial REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date was Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 4,800.00%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. 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. JPMorgan Chase & Co. cut their price target on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Truist Financial lowered shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Barclays cut their target price on shares of 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. Finally, JMP Securities reiterated a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.89.

Plymouth Industrial REIT 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.