Plymouth Industrial REIT, Inc. (NYSE:PLYM) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 0.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 427,629 shares of the company’s stock after purchasing an additional 2,683 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Plymouth Industrial REIT were worth $9,143,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLYM. Dimensional Fund Advisors LP increased its holdings in Plymouth Industrial REIT by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company’s stock worth $11,480,000 after buying an additional 4,265 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Plymouth Industrial REIT by 9.8% in the second quarter. Envestnet Asset Management Inc. now owns 198,431 shares of the company’s stock worth $4,242,000 after acquiring an additional 17,710 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Plymouth Industrial REIT during the second quarter worth $1,078,000. Victory Capital Management Inc. lifted its position in Plymouth Industrial REIT by 7.6% during the second quarter. Victory Capital Management Inc. now owns 55,100 shares of the company’s stock valued at $1,178,000 after purchasing an additional 3,900 shares during the period. Finally, F M Investments LLC purchased a new stake in Plymouth Industrial REIT in the second quarter valued at $6,088,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

PLYM has been the subject of a number of recent research reports. Barclays lifted their price objective on Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Truist Financial boosted their price target on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Wedbush raised their price objective on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. Finally, BMO Capital Markets dropped their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.57.

Plymouth Industrial REIT Stock Up 0.0 %

Shares of PLYM opened at $22.80 on Thursday. Plymouth Industrial REIT, Inc. has a 52-week low of $19.21 and a 52-week high of $25.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.49. The stock has a fifty day simple moving average of $23.54 and a two-hundred day simple moving average of $22.07. The company has a market capitalization of $1.04 billion, a PE ratio of 53.02, a price-to-earnings-growth ratio of 1.71 and a beta of 1.36.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.21%. The ex-dividend date is Monday, September 30th. Plymouth Industrial REIT’s payout ratio is currently 223.26%.

Insiders Place Their Bets

In other news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the completion of the sale, the insider now owns 4,474,292 shares in the company, valued at approximately $105,503,805.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by insiders.

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.