Plymouth Industrial REIT, Inc. (NYSE:PLYM) Holdings Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,092 shares of the company’s stock after selling 654 shares during the quarter. Principal Financial Group Inc.’s holdings in Plymouth Industrial REIT were worth $1,358,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Copeland Capital Management LLC acquired a new stake in Plymouth Industrial REIT during the 3rd quarter valued at $43,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in Plymouth Industrial REIT by 431.0% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock worth $202,000 after acquiring an additional 7,668 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Plymouth Industrial REIT during the 3rd quarter worth about $202,000. SG Americas Securities LLC acquired a new stake in Plymouth Industrial REIT during the 3rd quarter worth about $204,000. Finally, Blue Trust Inc. purchased a new position in Plymouth Industrial REIT during the 2nd quarter valued at about $207,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity at Plymouth Industrial REIT

In other news, CEO Jeffrey E. Witherell acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $18.49 per share, with a total value of $36,980.00. Following the acquisition, the chief executive officer now owns 252,248 shares in the company, valued at approximately $4,664,065.52. This represents a 0.80 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pendleton P. Jr. White bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $91,950. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Plymouth Industrial REIT Stock Performance

Plymouth Industrial REIT stock opened at $18.78 on Friday. Plymouth Industrial REIT, Inc. has a one year low of $18.08 and a one year high of $25.55. The company’s fifty day moving average price is $21.11 and its two-hundred day moving average price is $21.90. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $852.41 million, a price-to-earnings ratio of 939.00, a PEG ratio of 1.46 and a beta of 1.37.

Plymouth Industrial REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date was Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is 4,800.00%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PLYM shares. Wedbush raised their price target on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Barclays decreased their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. BNP Paribas downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research note on Friday, November 8th. B. Riley lifted their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Truist Financial upped their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $24.89.

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.