Plymouth Industrial REIT, Inc. (NYSE:PLYM) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its holdings in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 6.4% in the third quarter, HoldingsChannel.com reports. The firm owned 455,092 shares of the company’s stock after acquiring an additional 27,463 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Plymouth Industrial REIT were worth $10,285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Copeland Capital Management LLC acquired a new stake in shares of Plymouth Industrial REIT during the third quarter valued at about $43,000. EntryPoint Capital LLC grew its holdings in shares of Plymouth Industrial REIT by 33.9% in the first quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock valued at $112,000 after purchasing an additional 1,266 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased 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 worth $202,000 after buying an additional 7,668 shares during the period. 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 Plymouth Industrial REIT in the 3rd quarter valued at approximately $204,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Plymouth Industrial REIT Stock Performance

Shares of Plymouth Industrial REIT stock opened at $18.86 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. Plymouth Industrial REIT, Inc. has a 52 week low of $18.08 and a 52 week high of $25.55. The firm’s 50 day moving average is $21.20 and its two-hundred day moving average is $21.91. The firm has a market capitalization of $856.08 million, a P/E ratio of 943.03, a P/E/G ratio of 1.44 and a beta of 1.37.

Plymouth Industrial REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 5.09%. Plymouth Industrial REIT’s dividend payout ratio is currently 4,800.00%.

Insider Transactions at Plymouth Industrial REIT

In related news, CEO Jeffrey E. Witherell bought 2,000 shares of the stock in a transaction on Friday, November 15th. The shares were bought at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the purchase, the chief executive officer now owns 252,248 shares of the company’s stock, valued at $4,664,065.52. This trade represents a 0.80 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Pendleton P. Jr. White acquired 5,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $18.39 per share, with a total value of $91,950.00. Following the transaction, 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. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PLYM shares. BMO Capital Markets reduced their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 28th. 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 note on Monday, August 5th. Barclays lowered their price objective on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday. Wedbush raised their target price on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, Truist Financial boosted their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. One investment 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, the company presently has a consensus rating of “Hold” and an average price target 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.