Cubist Systematic Strategies LLC Sells 5,726 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Cubist Systematic Strategies LLC trimmed its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 28.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,596 shares of the company’s stock after selling 5,726 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Plymouth Industrial REIT were worth $312,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. increased its stake in Plymouth Industrial REIT by 2.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 22,192 shares of the company’s stock worth $470,000 after acquiring an additional 490 shares during the last quarter. American International Group Inc. raised its stake in Plymouth Industrial REIT by 2.5% during the first quarter. American International Group Inc. now owns 22,508 shares of the company’s stock valued at $506,000 after purchasing an additional 544 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Plymouth Industrial REIT by 1.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 42,914 shares of the company’s stock valued at $966,000 after purchasing an additional 578 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Plymouth Industrial REIT by 4.0% in the 1st quarter. State of Alaska Department of Revenue now owns 21,590 shares of the company’s stock worth $484,000 after buying an additional 832 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Plymouth Industrial REIT by 8.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 11,838 shares of the company’s stock worth $266,000 after buying an additional 939 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PLYM shares. B. Riley lifted their price target on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wedbush boosted their target price on Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. BMO Capital Markets decreased their price target 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. Barclays lifted their price objective on shares of Plymouth Industrial REIT from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Finally, Truist Financial increased their target price on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.57.

Plymouth Industrial REIT Stock Performance

PLYM stock opened at $21.26 on Monday. Plymouth Industrial REIT, Inc. has a twelve month low of $19.21 and a twelve month high of $25.55. The firm has a market cap of $964.82 million, a price-to-earnings ratio of 49.44, a PEG ratio of 1.62 and a beta of 1.36. The business’s fifty day simple moving average is $23.03 and its two-hundred day simple moving average is $22.08. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.49.

Plymouth Industrial REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.52%. The ex-dividend date is Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is presently 223.26%.

Insider Activity at Plymouth Industrial REIT

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 transaction, the insider now directly owns 4,474,292 shares of the company’s stock, valued at approximately $105,503,805.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

Plymouth Industrial REIT 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.