State of New Jersey Common Pension Fund D Sells 17,000 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

State of New Jersey Common Pension Fund D reduced its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 6.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 231,375 shares of the company’s stock after selling 17,000 shares during the period. State of New Jersey Common Pension Fund D owned 0.51% of Plymouth Industrial REIT worth $5,229,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PLYM. Westwood Holdings Group Inc. grew its holdings in Plymouth Industrial REIT by 10.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,935,803 shares of the company’s stock valued at $66,056,000 after buying an additional 286,434 shares in the last quarter. F M Investments LLC acquired a new stake in Plymouth Industrial REIT during the second quarter worth approximately $6,088,000. Millennium Management LLC increased its stake in Plymouth Industrial REIT by 115.6% during the 2nd quarter. Millennium Management LLC now owns 338,894 shares of the company’s stock worth $7,246,000 after acquiring an additional 181,725 shares during the period. Vanguard Group Inc. raised its holdings in Plymouth Industrial REIT by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock valued at $95,943,000 after acquiring an additional 115,318 shares in the last quarter. Finally, Meros Investment Management LP lifted its position in shares of Plymouth Industrial REIT by 38.2% during the 2nd quarter. Meros Investment Management LP now owns 402,923 shares of the company’s stock valued at $8,614,000 after acquiring an additional 111,339 shares during the period. 92.67% of the stock is owned by institutional investors.

Insider Transactions at Plymouth Industrial REIT

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $23.58, for a total value of $13,285,868.04. Following the sale, the insider now owns 4,474,292 shares in the company, valued at approximately $105,503,805.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on PLYM shares. BMO Capital Markets cut their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Wednesday, August 28th. Barclays upped 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 report on Wednesday, August 14th. 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 research report on Friday. Wedbush lifted their price target on 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, B. Riley upped their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.25.

Plymouth Industrial REIT Trading Down 0.2 %

Shares of PLYM opened at $20.86 on Tuesday. The firm has a market cap of $946.96 million, a P/E ratio of 1,043.00, a price-to-earnings-growth ratio of 1.62 and a beta of 1.37. Plymouth Industrial REIT, Inc. has a fifty-two week low of $19.84 and a fifty-two week high of $25.55. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.16 and a current ratio of 0.16. The business has a 50-day moving average of $21.88 and a 200 day moving average of $22.03.

Plymouth Industrial REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Monday, September 30th. Plymouth Industrial REIT’s payout ratio is presently 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.