Principal Financial Group Inc. Has $1.06 Million Stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Principal Financial Group Inc. decreased its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,482 shares of the company’s stock after selling 610 shares during the quarter. Principal Financial Group Inc. owned 0.13% of Plymouth Industrial REIT worth $1,059,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Quarry LP boosted its position in Plymouth Industrial REIT by 88.4% in the third quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after buying an additional 860 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Plymouth Industrial REIT by 1.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock worth $1,064,000 after acquiring an additional 900 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in Plymouth Industrial REIT by 2.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company’s stock worth $736,000 after purchasing an additional 952 shares during the period. Rhumbline Advisers increased its stake in shares of Plymouth Industrial REIT by 1.4% in the 4th quarter. Rhumbline Advisers now owns 73,529 shares of the company’s stock valued at $1,309,000 after acquiring an additional 1,010 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Plymouth Industrial REIT by 11.4% in the third 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. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

PLYM has been the subject of several recent research reports. BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective for the company. in a report on Friday, November 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. JPMorgan Chase & Co. decreased their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Truist Financial lowered Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Finally, Barclays cut 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $23.33.

Plymouth Industrial REIT Stock Performance

Shares of PLYM opened at $17.25 on Thursday. The company has a market capitalization of $782.91 million, a price-to-earnings ratio of 862.45 and a beta of 1.45. 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 has a 50 day moving average of $16.92 and a 200 day moving average of $19.58. Plymouth Industrial REIT, Inc. has a 12 month low of $16.06 and a 12 month high of $24.71.

Plymouth Industrial REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date of this dividend was Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio is currently 31.37%.

Plymouth Industrial REIT Company 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.