Plymouth Industrial REIT, Inc. (NYSE:PLYM) Shares Sold by Boston Partners

Boston Partners lowered its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 46.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,694 shares of the company’s stock after selling 24,843 shares during the quarter. Boston Partners’ holdings in Plymouth Industrial REIT were worth $511,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp lifted its holdings in Plymouth Industrial REIT by 1.4% in the third quarter. State Street Corp now owns 1,223,747 shares of the company’s stock valued at $27,949,000 after acquiring an additional 16,398 shares during the period. Geode Capital Management LLC increased its position 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 buying an additional 29,924 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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. JPMorgan Chase & Co. increased its position in shares of 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. Finally, Thompson Siegel & Walmsley LLC purchased a new position in shares of Plymouth Industrial REIT in the fourth quarter valued at $7,443,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Performance

NYSE PLYM opened at $17.05 on Friday. The business’s 50-day simple moving average is $16.84 and its 200-day simple moving average is $19.00. The firm has a market capitalization of $776.42 million, a P/E ratio of 852.25 and a beta of 1.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. Plymouth Industrial REIT, Inc. has a 1-year low of $16.06 and a 1-year high of $24.71.

Plymouth Industrial REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 5.63%. Plymouth Industrial REIT’s dividend payout ratio is presently 31.37%.

Analyst Upgrades and Downgrades

PLYM has been the subject of a number of research analyst reports. JMP Securities restated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. Robert W. Baird dropped their price target on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Truist Financial cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Wedbush set a $17.00 price objective on Plymouth Industrial REIT in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. dropped their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company 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 given a buy rating to the company’s stock. According to MarketBeat.com, Plymouth Industrial REIT currently has a consensus rating of “Hold” and a consensus price target of $22.44.

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.