Geode Capital Management LLC Purchases 29,924 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Geode Capital Management LLC boosted its holdings in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,047,832 shares of the company’s stock after acquiring an additional 29,924 shares during the period. Geode Capital Management LLC owned about 2.31% of Plymouth Industrial REIT worth $23,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLYM. Bank of New York Mellon Corp lifted its position in shares of Plymouth Industrial REIT by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 226,578 shares of the company’s stock worth $4,844,000 after purchasing an additional 6,736 shares during the period. Victory Capital Management Inc. raised its stake in Plymouth Industrial REIT by 7.6% in the second quarter. Victory Capital Management Inc. now owns 55,100 shares of the company’s stock worth $1,178,000 after buying an additional 3,900 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Plymouth Industrial REIT during the second quarter worth $1,078,000. Envestnet Asset Management Inc. boosted its position in Plymouth Industrial REIT by 9.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 198,431 shares of the company’s stock valued at $4,242,000 after acquiring an additional 17,710 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Plymouth Industrial REIT by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company’s stock valued at $11,480,000 after acquiring an additional 4,265 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Plymouth Industrial REIT Stock Performance

PLYM opened at $17.73 on Friday. The company has a market cap of $804.75 million, a P/E ratio of 886.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.34. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The firm’s 50-day moving average price is $19.26 and its 200-day moving average price is $21.49. Plymouth Industrial REIT, Inc. has a 52-week low of $17.22 and a 52-week high of $24.71.

Plymouth Industrial REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.96 dividend on an annualized basis and a yield of 5.41%. Plymouth Industrial REIT’s payout ratio is 4,800.00%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

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

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.