Cerity Partners LLC Increases Stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Cerity Partners LLC lifted its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 28.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,316 shares of the company’s stock after buying an additional 7,512 shares during the quarter. Cerity Partners LLC owned approximately 0.08% of Plymouth Industrial REIT worth $776,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Copeland Capital Management LLC bought a new position in shares of Plymouth Industrial REIT during the 3rd quarter valued at about $43,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Plymouth Industrial REIT by 431.0% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock worth $202,000 after buying an additional 7,668 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in Plymouth Industrial REIT during the third quarter valued at approximately $202,000. SG Americas Securities LLC purchased a new position in Plymouth Industrial REIT during the 3rd quarter valued at approximately $204,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Plymouth Industrial REIT during the 3rd quarter worth approximately $205,000. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Trading Up 1.0 %

PLYM opened at $18.65 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. The stock’s 50 day moving average price is $20.44 and its 200-day moving average price is $21.78. Plymouth Industrial REIT, Inc. has a one year low of $18.08 and a one year high of $25.55. The stock has a market cap of $846.50 million, a price-to-earnings ratio of 927.50, a P/E/G ratio of 1.44 and a beta of 1.34.

Plymouth Industrial REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date was Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is currently 4,800.00%.

Analyst Ratings Changes

Several brokerages recently weighed in on PLYM. Robert W. Baird reduced their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. BNP Paribas downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price on the stock. in a report on Friday, November 8th. Barclays lowered their price target on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. BMO Capital Markets reduced their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 28th. Finally, Truist Financial lowered their price objective on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Plymouth Industrial REIT currently has an average rating of “Hold” and an average target price of $24.33.

Insider Transactions at Plymouth Industrial REIT

In other news, Director Pendleton P. Jr. White bought 5,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $18.39 per share, with a total value of $91,950.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $91,950. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey E. Witherell bought 2,000 shares of the stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $18.49 per share, with a total value of $36,980.00. Following the completion of the acquisition, the chief executive officer now directly owns 252,248 shares in the company, valued at approximately $4,664,065.52. This trade represents a 0.80 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

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.