JPMorgan Chase & Co. Has $20.13 Million Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

JPMorgan Chase & Co. grew its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 8.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 890,653 shares of the company’s stock after buying an additional 66,886 shares during the period. JPMorgan Chase & Co. owned 1.96% of Plymouth Industrial REIT worth $20,129,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Tidal Investments LLC lifted its holdings in Plymouth Industrial REIT by 7.4% during the 3rd 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 during the last quarter. Barclays PLC boosted its holdings in shares of Plymouth Industrial REIT by 321.2% during the 3rd quarter. Barclays PLC now owns 63,101 shares of the company’s stock worth $1,426,000 after buying an additional 48,119 shares during the period. Geode Capital Management LLC grew its stake in Plymouth Industrial REIT by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock valued at $23,685,000 after buying an additional 29,924 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Plymouth Industrial REIT by 1.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock valued at $1,064,000 after acquiring an additional 900 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its position in Plymouth Industrial REIT by 7.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 32,352 shares of the company’s stock worth $731,000 after acquiring an additional 2,110 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays decreased their target price on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Robert W. Baird lowered their price objective on 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. Truist Financial dropped their target price on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 29th. Finally, BNP Paribas downgraded 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 research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Plymouth Industrial REIT has a consensus rating of “Hold” and an average price target of $24.33.

Plymouth Industrial REIT Trading Down 1.6 %

PLYM opened at $16.96 on Friday. The stock has a market capitalization of $769.80 million, a price-to-earnings ratio of 848.00, a P/E/G 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. Plymouth Industrial REIT, Inc. has a twelve month low of $16.92 and a twelve month high of $24.71. The company has a 50-day simple moving average of $18.65 and a 200 day simple moving average of $21.26.

Plymouth Industrial REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.66%. Plymouth Industrial REIT’s dividend payout ratio is 4,800.00%.

Insider Activity at Plymouth Industrial REIT

In related news, Director Pendleton P. Jr. White purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $18.39 per share, with a total value of $91,950.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $91,950. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey E. Witherell acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost of $18.49 per share, with a total value 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. The trade was a 0.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.

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.