State Street Corp Has $27.95 Million Stock Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

State Street Corp raised its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 1.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,223,747 shares of the company’s stock after buying an additional 16,398 shares during the quarter. State Street Corp’s holdings in Plymouth Industrial REIT were worth $27,949,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PLYM. Quarry LP increased its position in shares of Plymouth Industrial REIT by 88.4% during the third quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after purchasing an additional 860 shares during the period. Point72 DIFC Ltd acquired a new stake in Plymouth Industrial REIT during the third quarter worth $46,000. Centiva Capital LP bought a new stake in Plymouth Industrial REIT in the 3rd quarter valued at $581,000. ClearAlpha Technologies LP bought a new stake in Plymouth Industrial REIT in the 3rd quarter valued at $284,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Plymouth Industrial REIT in the 3rd quarter valued at $123,000. 92.67% of the stock is owned by institutional investors.

Insider Buying and Selling at Plymouth Industrial REIT

In other news, Director Pendleton P. Jr. White acquired 5,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were purchased at an average cost of $18.39 per share, with a total value of $91,950.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at $91,950. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jeffrey E. Witherell acquired 2,000 shares of the stock in a transaction on Friday, November 15th. The shares were purchased at an average price 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 in the company, valued at approximately $4,664,065.52. This trade represents a 0.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Plymouth Industrial REIT Stock Performance

Shares of PLYM stock opened at $18.00 on Monday. Plymouth Industrial REIT, Inc. has a 12 month low of $17.22 and a 12 month high of $24.71. The company’s fifty day simple moving average is $19.64 and its 200-day simple moving average is $21.60. The firm has a market cap of $817.00 million, a PE ratio of 900.00, a P/E/G ratio of 1.47 and a beta of 1.34. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.33%. The ex-dividend date is Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 4,800.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Robert W. Baird lowered their target price on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. JMP Securities reissued a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. BMO Capital Markets decreased their price target 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. BNP Paribas cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research report on Friday, November 8th. Finally, Truist Financial cut their price objective 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.33.

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.