Tidal Investments LLC Increases Stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Tidal Investments LLC boosted its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,433 shares of the company’s stock after purchasing an additional 1,614 shares during the period. Tidal Investments LLC owned approximately 0.05% of Plymouth Industrial REIT worth $530,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PLYM. Barclays PLC lifted its stake in shares of Plymouth Industrial REIT by 321.2% during the third quarter. Barclays PLC now owns 63,101 shares of the company’s stock worth $1,426,000 after buying an additional 48,119 shares during the period. Geode Capital Management LLC grew its stake in Plymouth Industrial REIT by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock valued at $23,685,000 after purchasing an additional 29,924 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Plymouth Industrial REIT by 1.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock valued at $1,064,000 after purchasing an additional 900 shares during the last quarter. Y Intercept Hong Kong Ltd increased its holdings in shares of Plymouth Industrial REIT by 7.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 32,352 shares of the company’s stock valued at $731,000 after purchasing an additional 2,110 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of Plymouth Industrial REIT by 122.0% in the third quarter. Jane Street Group LLC now owns 94,991 shares of the company’s stock worth $2,147,000 after purchasing an additional 52,197 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Up 3.4 %

Plymouth Industrial REIT 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 stock has a market capitalization of $817.00 million, a PE ratio of 900.00, a price-to-earnings-growth ratio of 1.47 and a beta of 1.34. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. The business has a 50 day simple moving average of $19.64 and a 200-day simple moving average of $21.60.

Plymouth Industrial REIT Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PLYM shares. Truist Financial dropped their target price on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. JMP Securities reiterated a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. Barclays reduced 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 note on Monday, November 18th. Robert W. Baird lowered their target price on 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. Finally, BMO Capital Markets reduced their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $24.33.

Insider Buying and Selling at Plymouth Industrial REIT

In other news, CEO Jeffrey E. Witherell acquired 2,000 shares of Plymouth Industrial REIT stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $18.49 per share, with a total value of $36,980.00. Following the purchase, the chief executive officer now owns 252,248 shares in the company, valued at $4,664,065.52. This trade represents a 0.80 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pendleton P. Jr. White bought 5,000 shares of the stock in a transaction on Friday, November 15th. The shares were acquired at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $91,950. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Plymouth Industrial REIT 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.