Barclays PLC Raises Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Barclays PLC lifted its holdings in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 321.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,101 shares of the company’s stock after buying an additional 48,119 shares during the period. Barclays PLC owned about 0.14% of Plymouth Industrial REIT worth $1,426,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Quarry LP increased its stake in Plymouth Industrial REIT by 88.4% in the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after purchasing an additional 860 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake 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 purchasing an additional 900 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Plymouth Industrial REIT by 11.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company’s stock valued at $290,000 after purchasing an additional 1,317 shares in the last quarter. Copeland Capital Management LLC purchased a new position in Plymouth Industrial REIT in the 3rd quarter valued at approximately $43,000. Finally, Loomis Sayles & Co. L P increased its stake in Plymouth Industrial REIT by 3,130.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after purchasing an additional 1,941 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLYM has been the subject of several research analyst reports. Barclays dropped 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. Robert W. Baird dropped their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Truist Financial dropped their price target on 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. Finally, BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target for the company. in a research report on Friday, November 8th. One investment 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. Based on data from MarketBeat, Plymouth Industrial REIT has an average rating of “Hold” and a consensus target price of $24.33.

Insider Activity at Plymouth Industrial REIT

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

Plymouth Industrial REIT Price Performance

PLYM stock opened at $16.56 on Monday. Plymouth Industrial REIT, Inc. has a 52-week low of $16.37 and a 52-week high of $24.71. The stock’s fifty day simple moving average is $18.58 and its 200-day simple moving average is $21.23. 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 stock has a market capitalization of $751.64 million, a price-to-earnings ratio of 828.00, a price-to-earnings-growth ratio of 1.47 and a beta of 1.34.

Plymouth Industrial REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 5.80%. The ex-dividend date of this dividend is Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) 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.