Hennion & Walsh Asset Management Inc. Raises Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Hennion & Walsh Asset Management Inc. lifted its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 30.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,628 shares of the company’s stock after purchasing an additional 2,697 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Plymouth Industrial REIT were worth $207,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Millennium Management LLC grew its holdings 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 during the period. Charles Schwab Investment Management Inc. lifted its position 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 buying an additional 180,003 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Plymouth Industrial REIT by 4.1% during the 3rd quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock valued at $99,471,000 after acquiring an additional 174,836 shares during the period. Foundry Partners LLC purchased a new stake in Plymouth Industrial REIT in the 3rd quarter worth approximately $3,725,000. Finally, Meros Investment Management LP raised its stake in Plymouth Industrial REIT by 38.2% during the 2nd quarter. Meros Investment Management LP now owns 402,923 shares of the company’s stock worth $8,614,000 after acquiring an additional 111,339 shares during the period. 92.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PLYM shares. 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 cut their price target on 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 price objective 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. JMP Securities reiterated a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. Finally, Truist Financial cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.89.

Plymouth Industrial REIT Stock Performance

NYSE PLYM opened at $17.18 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. Plymouth Industrial REIT, Inc. has a 1-year low of $16.37 and a 1-year high of $24.71. The business has a 50 day simple moving average of $18.13 and a two-hundred day simple moving average of $21.04. The stock has a market capitalization of $779.66 million, a PE ratio of 858.85 and a beta of 1.34.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date of this dividend is Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 4,800.00%.

Insider Buying and Selling

In related news, CEO Jeffrey E. Witherell acquired 2,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were acquired at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the completion of the transaction, the chief executive officer now directly owns 252,248 shares in the company, valued at approximately $4,664,065.52. This trade represents a 0.80 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pendleton P. Jr. White acquired 5,000 shares of the stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $18.39 per share, with a total value of $91,950.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $91,950. The trade was a ∞ 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 company insiders.

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.