MetLife Investment Management LLC Lowers Stock Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

MetLife Investment Management LLC decreased its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,426 shares of the company’s stock after selling 1,778 shares during the quarter. MetLife Investment Management LLC’s holdings in Plymouth Industrial REIT were worth $552,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PLYM. Copeland Capital Management LLC purchased a new stake in shares of Plymouth Industrial REIT in the third quarter valued at about $43,000. Loomis Sayles & Co. L P increased its position in Plymouth Industrial REIT by 3,130.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after acquiring an additional 1,941 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its stake in Plymouth Industrial REIT by 431.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock valued at $202,000 after acquiring an additional 7,668 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Plymouth Industrial REIT during the 3rd quarter worth approximately $202,000. Finally, SG Americas Securities LLC purchased a new position in shares of Plymouth Industrial REIT in the 3rd quarter valued at approximately $204,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

PLYM has been the subject of several recent research reports. Truist Financial decreased their price target on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 29th. Barclays lowered their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. BMO Capital Markets cut their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Wednesday, August 28th. BNP Paribas cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price on the stock. in a research report on Friday, November 8th. Finally, JMP Securities reissued a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.33.

Insider Transactions at Plymouth Industrial REIT

In related news, CEO Jeffrey E. Witherell acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the transaction, the chief executive officer now directly owns 252,248 shares of the company’s stock, 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 through this link. Also, Director Pendleton P. Jr. White bought 5,000 shares of the stock in a transaction on Friday, November 15th. The shares were bought at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $91,950. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Plymouth Industrial REIT Stock Performance

NYSE PLYM opened at $18.54 on Friday. The business has a 50 day moving average price of $20.27 and a 200 day moving average price of $21.74. The company has a market capitalization of $841.53 million, a P/E ratio of 927.00, a PEG ratio of 1.44 and a beta of 1.34. Plymouth Industrial REIT, Inc. has a 1-year low of $18.08 and a 1-year high of $25.55. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date was Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is currently 4,800.00%.

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.