Charles Schwab Investment Management Inc. Cuts Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Charles Schwab Investment Management Inc. lessened its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 27.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 659,204 shares of the company’s stock after selling 251,547 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Plymouth Industrial REIT were worth $11,734,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Quarry LP boosted its position in Plymouth Industrial REIT by 88.4% during the third quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after purchasing an additional 860 shares during the period. Loomis Sayles & Co. L P lifted its stake in shares of Plymouth Industrial REIT by 3,130.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after buying an additional 1,941 shares in the last quarter. Point72 DIFC Ltd bought a new position in Plymouth Industrial REIT in the 3rd quarter worth approximately $46,000. Point72 Hong Kong Ltd purchased a new position in Plymouth Industrial REIT in the 3rd quarter valued at approximately $123,000. Finally, SG Americas Securities LLC raised its holdings in Plymouth Industrial REIT by 15.0% during the 4th quarter. SG Americas Securities LLC now owns 10,390 shares of the company’s stock valued at $185,000 after acquiring an additional 1,358 shares during the period. 92.67% of the stock is owned by institutional investors.

Plymouth Industrial REIT Stock Down 1.7 %

PLYM opened at $17.05 on Friday. The firm’s 50 day simple moving average is $16.84 and its two-hundred day simple moving average is $19.03. The company has a market capitalization of $776.42 million, a PE ratio of 852.25 and a beta of 1.45. Plymouth Industrial REIT, Inc. has a 1-year low of $16.06 and a 1-year high of $24.71. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42.

Plymouth Industrial REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.63%. The ex-dividend date is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio is presently 31.37%.

Analyst Ratings Changes

A number of analysts recently issued reports on PLYM shares. Robert W. Baird decreased their price objective on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. JMP Securities restated a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. Truist Financial lowered shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Finally, Wedbush set a $17.00 target price on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.44.

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.