JPMorgan Chase & Co. Purchases 66,886 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

JPMorgan Chase & Co. lifted its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 8.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 890,653 shares of the company’s stock after buying an additional 66,886 shares during the quarter. JPMorgan Chase & Co.’s holdings in Plymouth Industrial REIT were worth $20,129,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP increased its position in Plymouth Industrial REIT by 88.4% in the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after acquiring an additional 860 shares during the period. Copeland Capital Management LLC bought a new stake in shares of Plymouth Industrial REIT in the third quarter worth $43,000. Loomis Sayles & Co. L P increased its holdings in Plymouth Industrial REIT by 3,130.6% in the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after purchasing an additional 1,941 shares during the period. Point72 DIFC Ltd bought a new position in Plymouth Industrial REIT during the 3rd quarter worth $46,000. Finally, Point72 Hong Kong Ltd acquired a new position in Plymouth Industrial REIT during the 3rd quarter worth about $123,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PLYM shares. BNP Paribas cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target for the company. in a research note on Friday, November 8th. Barclays decreased their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Robert W. Baird lowered their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Finally, Truist Financial reduced their price objective on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $24.33.

Insider Activity

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

Plymouth Industrial REIT Stock Performance

Shares of PLYM stock opened at $16.96 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 $16.92 and a 52 week high of $24.71. The firm has a 50 day moving average of $18.65 and a 200-day moving average of $21.26. The company has a market cap of $769.80 million, a price-to-earnings ratio of 848.00, a price-to-earnings-growth ratio of 1.47 and a beta of 1.34.

Plymouth Industrial REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.66%. The ex-dividend date is Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 4,800.00%.

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.