Allspring Global Investments Holdings LLC Sells 26,374 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Allspring Global Investments Holdings LLC trimmed its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 13.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,999 shares of the company’s stock after selling 26,374 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Plymouth Industrial REIT were worth $3,752,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Plymouth Industrial REIT by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 4,148,814 shares of the company’s stock valued at $99,862,000 after acquiring an additional 83,192 shares during the last quarter. Jennison Associates LLC increased its holdings in Plymouth Industrial REIT by 5.9% in the 1st quarter. Jennison Associates LLC now owns 4,183,540 shares of the company’s stock valued at $94,130,000 after acquiring an additional 234,536 shares during the last quarter. Meros Investment Management LP increased its holdings in Plymouth Industrial REIT by 38.2% in the 2nd quarter. Meros Investment Management LP now owns 402,923 shares of the company’s stock valued at $8,614,000 after acquiring an additional 111,339 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in Plymouth Industrial REIT by 1.0% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock valued at $63,372,000 after acquiring an additional 28,272 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Plymouth Industrial REIT by 17.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,008 shares of the company’s stock valued at $293,000 after acquiring an additional 1,892 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Plymouth Industrial REIT Price Performance

PLYM stock opened at $20.52 on Tuesday. Plymouth Industrial REIT, Inc. has a 12 month low of $19.21 and a 12 month high of $25.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49. The company has a 50-day moving average price of $22.57 and a 200 day moving average price of $22.04. The stock has a market cap of $931.61 million, a PE ratio of 38.00, a P/E/G ratio of 1.57 and a beta of 1.36.

Plymouth Industrial REIT Announces Dividend

The company 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 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 4.68%. Plymouth Industrial REIT’s dividend payout ratio is presently 177.78%.

Analyst Upgrades and Downgrades

PLYM has been the topic of a number of research reports. JMP Securities reiterated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. JPMorgan Chase & Co. dropped their price objective on shares of Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. BMO Capital Markets dropped their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a research note 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, B. Riley lifted 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 Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Plymouth Industrial REIT currently has a consensus rating of “Hold” and a consensus price target of $25.57.

Insider Buying and Selling

In other Plymouth Industrial REIT news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 4,474,292 shares in the company, valued at $105,503,805.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.

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.