Foster & Motley Inc. Cuts Stock Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Foster & Motley Inc. lowered its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 44.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,321 shares of the company’s stock after selling 11,404 shares during the period. Foster & Motley Inc.’s holdings in Plymouth Industrial REIT were worth $306,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PLYM. Charles Schwab Investment Management Inc. raised its stake in Plymouth Industrial REIT by 19.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 562,177 shares of the company’s stock worth $13,532,000 after purchasing an additional 90,645 shares during the period. BNP Paribas Financial Markets increased its position in shares of Plymouth Industrial REIT by 246.7% in the fourth quarter. BNP Paribas Financial Markets now owns 63,966 shares of the company’s stock worth $1,540,000 after acquiring an additional 45,517 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Plymouth Industrial REIT by 77.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,751 shares of the company’s stock worth $42,000 after acquiring an additional 764 shares in the last quarter. GW&K Investment Management LLC increased its position in shares of Plymouth Industrial REIT by 44,205.6% in the fourth quarter. GW&K Investment Management LLC now owns 119,625 shares of the company’s stock worth $2,879,000 after acquiring an additional 119,355 shares in the last quarter. Finally, Bard Associates Inc. increased its position in shares of Plymouth Industrial REIT by 2.6% in the fourth quarter. Bard Associates Inc. now owns 30,203 shares of the company’s stock worth $734,000 after acquiring an additional 754 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Price Performance

Shares of PLYM stock opened at $22.77 on Friday. The firm has a market cap of $1.03 billion, a P/E ratio of 52.95, a P/E/G ratio of 1.81 and a beta of 1.36. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.16 and a quick ratio of 0.16. Plymouth Industrial REIT, Inc. has a 1-year low of $19.21 and a 1-year high of $25.55. The firm has a fifty day moving average of $23.33 and a two-hundred day moving average of $21.96.

Plymouth Industrial REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend was Friday, June 28th. Plymouth Industrial REIT’s dividend payout ratio is currently 223.26%.

Insiders Place Their Bets

In other Plymouth Industrial REIT news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the completion of the transaction, the insider now directly owns 4,474,292 shares of the company’s stock, valued at approximately $105,503,805.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PLYM shares. Barclays increased 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. BMO Capital Markets dropped their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a research report on Wednesday, August 28th. JPMorgan Chase & Co. dropped their price objective on shares of Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. B. Riley raised their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Wedbush raised their price target on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $25.57.

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.