Allspring Global Investments Holdings LLC Sells 26,374 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Allspring Global Investments Holdings LLC cut its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 13.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 165,999 shares of the company’s stock after selling 26,374 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.37% of Plymouth Industrial REIT worth $3,752,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PLYM. EntryPoint Capital LLC grew its stake in shares of Plymouth Industrial REIT by 33.9% in the 1st quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock valued at $112,000 after buying an additional 1,266 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Plymouth Industrial REIT by 431.0% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock worth $202,000 after purchasing an additional 7,668 shares during the period. SG Americas Securities LLC bought a new stake in shares of Plymouth Industrial REIT in the 3rd quarter worth approximately $204,000. Blue Trust Inc. bought a new stake in shares of Plymouth Industrial REIT in the 2nd quarter worth approximately $207,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Plymouth Industrial REIT by 8.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 11,838 shares of the company’s stock worth $266,000 after purchasing an additional 939 shares during the period. 92.67% of the stock is owned by institutional investors.

Insider Activity

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Plymouth Industrial REIT Trading Down 1.1 %

NYSE:PLYM opened at $20.52 on Tuesday. The company’s 50 day moving average price is $22.57 and its 200-day moving average price is $22.04. Plymouth Industrial REIT, Inc. has a 52 week low of $19.21 and a 52 week high of $25.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.49. The stock has a market cap of $931.61 million, a price-to-earnings ratio of 38.00, a PEG ratio of 1.57 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. Stockholders of record on Monday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Monday, September 30th. Plymouth Industrial REIT’s payout ratio is 177.78%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PLYM. BMO Capital Markets lowered their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Wednesday, August 28th. Barclays upped their price target on shares of 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. B. Riley upped their price objective on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Wedbush upped their price objective on shares of 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, JPMorgan Chase & Co. decreased their price target on shares of Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. 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 stock. According to data from MarketBeat, Plymouth Industrial REIT presently has an average rating of “Hold” and an average target price of $25.57.

Plymouth Industrial REIT Company 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.