Nisa Investment Advisors LLC Sells 1,313 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Nisa Investment Advisors LLC lowered its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 10.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,076 shares of the company’s stock after selling 1,313 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Plymouth Industrial REIT were worth $200,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Millennium Management LLC boosted its position in Plymouth Industrial REIT by 115.6% during the second quarter. Millennium Management LLC now owns 338,894 shares of the company’s stock valued at $7,246,000 after purchasing an additional 181,725 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Plymouth Industrial REIT by 24.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock valued at $20,583,000 after purchasing an additional 180,003 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Plymouth Industrial REIT by 4.1% in the 3rd quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock worth $99,471,000 after purchasing an additional 174,836 shares in the last quarter. Foundry Partners LLC acquired a new position in shares of Plymouth Industrial REIT during the third quarter valued at about $3,725,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Plymouth Industrial REIT by 8.1% during the third quarter. JPMorgan Chase & Co. now owns 890,653 shares of the company’s stock worth $20,129,000 after buying an additional 66,886 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays reduced their target price 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 objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Truist Financial cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. JMP Securities reissued a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Finally, BNP Paribas downgraded 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, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Plymouth Industrial REIT currently has a consensus rating of “Hold” and a consensus target price of $23.89.

Insiders Place Their Bets

In other news, CEO Jeffrey E. Witherell bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price 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 approximately $4,664,065.52. The trade was a 0.80 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 on Friday, November 15th. The shares were acquired at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at $91,950. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by insiders.

Plymouth Industrial REIT Stock Down 1.4 %

Shares of PLYM opened at $16.65 on Thursday. 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 fifty day simple moving average of $17.85 and a two-hundred day simple moving average of $20.80. Plymouth Industrial REIT, Inc. has a 52-week low of $16.37 and a 52-week high of $24.71. The company has a market capitalization of $755.88 million, a PE ratio of 832.65 and a beta of 1.34.

Plymouth Industrial REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.24 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 annualized dividend and a yield of 5.76%. Plymouth Industrial REIT’s payout ratio is 4,800.00%.

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.