Plymouth Industrial REIT, Inc. (NYSE:PLYM) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 161,872 shares of the company’s stock after selling 6,532 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.36% of Plymouth Industrial REIT worth $3,461,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Plymouth Industrial REIT by 2.8% in the first quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock worth $95,943,000 after acquiring an additional 115,318 shares during the last quarter. Jennison Associates LLC grew its position in shares of Plymouth Industrial REIT by 5.9% in the first quarter. Jennison Associates LLC now owns 4,183,540 shares of the company’s stock valued at $94,130,000 after purchasing an additional 234,536 shares during the period. Westwood Holdings Group Inc. grew its position in shares of Plymouth Industrial REIT by 1.0% in the second quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock valued at $63,372,000 after purchasing an additional 28,272 shares during the period. Wellington Management Group LLP grew its position in shares of Plymouth Industrial REIT by 1.8% in the fourth quarter. Wellington Management Group LLP now owns 1,669,720 shares of the company’s stock valued at $40,190,000 after purchasing an additional 29,479 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Plymouth Industrial REIT by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company’s stock valued at $11,480,000 after purchasing an additional 4,265 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Plymouth Industrial REIT

In other news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 4,474,292 shares of the company’s stock, valued at $105,503,805.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

Plymouth Industrial REIT Price Performance

PLYM stock opened at $21.64 on Wednesday. The stock has a 50-day moving average price of $23.25 and a two-hundred day moving average price of $22.10. Plymouth Industrial REIT, Inc. has a 12-month low of $19.21 and a 12-month high of $25.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49. The company has a market cap of $982.46 million, a PE ratio of 50.33, a price-to-earnings-growth ratio of 1.66 and a beta of 1.36.

Plymouth Industrial REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 223.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PLYM shares. Wedbush lifted their price objective on Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Barclays lifted their price objective on Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. BMO Capital Markets lowered their price objective on 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. B. Riley lifted their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, JMP Securities reissued a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.57.

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.