Victory Capital Management Inc. Purchases 2,600 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Victory Capital Management Inc. boosted its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,700 shares of the company’s stock after acquiring an additional 2,600 shares during the quarter. Victory Capital Management Inc. owned 0.13% of Plymouth Industrial REIT worth $1,304,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PLYM. Copeland Capital Management LLC bought a new stake in shares of Plymouth Industrial REIT during the 3rd quarter valued at $43,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in Plymouth Industrial REIT by 431.0% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock valued at $202,000 after purchasing an additional 7,668 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in Plymouth Industrial REIT during the third quarter valued at about $202,000. SG Americas Securities LLC purchased a new stake in Plymouth Industrial REIT in the third quarter worth about $204,000. Finally, Blue Trust Inc. bought a new position in shares of Plymouth Industrial REIT in the second quarter worth about $207,000. Institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

PLYM has been the subject of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. BNP Paribas lowered shares of 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. 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 lowered their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Finally, Wedbush increased their price target on Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.89.

Insider Transactions at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, CEO Jeffrey E. Witherell bought 2,000 shares of Plymouth Industrial REIT stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the acquisition, the chief executive officer now directly owns 252,248 shares in the company, valued at approximately $4,664,065.52. This represents a 0.80 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Pendleton P. Jr. White bought 5,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 5,000 shares in the company, valued at approximately $91,950. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Plymouth Industrial REIT Stock Performance

PLYM opened at $18.77 on Wednesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a market capitalization of $851.97 million, a price-to-earnings ratio of 938.50, a PEG ratio of 1.46 and a beta of 1.37. The company has a fifty day moving average of $20.94 and a 200 day moving average of $21.88. Plymouth Industrial REIT, Inc. has a fifty-two week low of $18.08 and a fifty-two week high of $25.55.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.11%. 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.