Principal Financial Group Inc. Sells 654 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Principal Financial Group Inc. cut its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 1.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,092 shares of the company’s stock after selling 654 shares during the quarter. Principal Financial Group Inc. owned 0.13% of Plymouth Industrial REIT worth $1,358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP boosted its position in Plymouth Industrial REIT by 88.4% during the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after acquiring an additional 860 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Plymouth Industrial REIT by 1.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock worth $1,064,000 after purchasing an additional 900 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Plymouth Industrial REIT by 11.4% during the third quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company’s stock worth $290,000 after purchasing an additional 1,317 shares during the last quarter. Tidal Investments LLC grew its position in Plymouth Industrial REIT by 7.4% in the third quarter. Tidal Investments LLC now owns 23,433 shares of the company’s stock valued at $530,000 after purchasing an additional 1,614 shares in the last quarter. Finally, Copeland Capital Management LLC acquired a new stake in Plymouth Industrial REIT in the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity at Plymouth Industrial REIT

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. 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. Barclays reduced their price target on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Truist Financial lowered their price target on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Finally, BNP Paribas cut shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price for the company. in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $24.33.

Plymouth Industrial REIT Stock Up 0.5 %

PLYM opened at $17.40 on Friday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. The stock’s fifty day simple moving average is $18.92 and its 200 day simple moving average is $21.37. Plymouth Industrial REIT, Inc. has a 1-year low of $17.20 and a 1-year high of $24.71. The stock has a market cap of $789.77 million, a PE ratio of 870.00, a price-to-earnings-growth ratio of 1.47 and a beta of 1.34.

Plymouth Industrial REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.52%. The ex-dividend date of this dividend is Tuesday, December 31st. Plymouth Industrial REIT’s payout ratio is 4,800.00%.

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.