Point72 Asia Singapore Pte. Ltd. Grows Stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Point72 Asia Singapore Pte. Ltd. increased its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 431.0% during the second quarter, Holdings Channel reports. The firm owned 9,447 shares of the company’s stock after acquiring an additional 7,668 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Plymouth Industrial REIT were worth $202,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Plymouth Industrial REIT by 2.8% during the first quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock valued at $95,943,000 after buying an additional 115,318 shares during the last quarter. Jennison Associates LLC lifted its stake in Plymouth Industrial REIT by 5.9% in the 1st quarter. Jennison Associates LLC now owns 4,183,540 shares of the company’s stock worth $94,130,000 after purchasing an additional 234,536 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of Plymouth Industrial REIT by 1.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock valued at $63,372,000 after purchasing an additional 28,272 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Plymouth Industrial REIT by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 1,669,720 shares of the company’s stock valued at $40,190,000 after purchasing an additional 29,479 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Plymouth Industrial REIT by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company’s stock worth $11,480,000 after purchasing an additional 4,265 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PLYM. B. Riley raised their price target on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a report on Monday, August 5th. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. Wedbush lifted 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. BMO Capital Markets decreased their target price on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. dropped their price target on Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Plymouth Industrial REIT has an average rating of “Hold” and a consensus target price of $25.57.

Insider Buying and Selling at Plymouth Industrial REIT

In other news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $23.58, for a total value of $13,285,868.04. Following the sale, the insider now directly owns 4,474,292 shares in the company, valued at $105,503,805.36. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.

Plymouth Industrial REIT Price Performance

Plymouth Industrial REIT stock opened at $22.02 on Thursday. Plymouth Industrial REIT, Inc. has a 12-month low of $19.21 and a 12-month high of $25.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49. The firm has a 50-day moving average price of $23.38 and a 200-day moving average price of $22.10. The firm has a market capitalization of $999.71 million, a PE ratio of 51.21, a price-to-earnings-growth ratio of 1.73 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. Shareholders of record on Monday, September 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.36%. The ex-dividend date is Monday, September 30th. Plymouth Industrial REIT’s payout ratio is currently 223.26%.

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.