Rhumbline Advisers Decreases Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Rhumbline Advisers reduced its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 1.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 76,254 shares of the company’s stock after selling 1,120 shares during the period. Rhumbline Advisers’ holdings in Plymouth Industrial REIT were worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Quadrant Capital Group LLC grew its position in Plymouth Industrial REIT by 77.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,751 shares of the company’s stock valued at $42,000 after buying an additional 764 shares during the period. New York State Teachers Retirement System purchased a new position in shares of Plymouth Industrial REIT during the 1st quarter worth $89,000. Garner Asset Management Corp bought a new stake in shares of Plymouth Industrial REIT during the 4th quarter valued at $98,000. EntryPoint Capital LLC increased its stake in shares of Plymouth Industrial REIT by 33.9% in the 1st quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock worth $112,000 after purchasing an additional 1,266 shares in the last quarter. Finally, Blue Trust Inc. bought a new position in Plymouth Industrial REIT in the 2nd quarter worth $207,000. Institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PLYM shares. BMO Capital Markets cut their price target on 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. Barclays boosted their price objective on Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. B. Riley raised their target price on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lowered their price target on shares of Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Finally, Truist Financial increased their price objective on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $25.57.

Insider Activity at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $23.58, for a total value of $13,285,868.04. Following the sale, the insider now owns 4,474,292 shares in the company, valued at approximately $105,503,805.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Plymouth Industrial REIT Trading Down 3.1 %

PLYM stock opened at $22.54 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.16 and a quick ratio of 0.16. Plymouth Industrial REIT, Inc. has a 1-year low of $19.21 and a 1-year high of $25.55. The business has a 50 day simple moving average of $23.59 and a two-hundred day simple moving average of $22.04. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 52.42, a PEG ratio of 1.75 and a beta of 1.36.

Plymouth Industrial REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.26%. Plymouth Industrial REIT’s dividend payout ratio is 223.26%.

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.