Principal Financial Group Inc. Has $1.30 Million Stock Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Principal Financial Group Inc. lowered its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 34.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,746 shares of the company’s stock after selling 31,566 shares during the quarter. Principal Financial Group Inc. owned 0.13% of Plymouth Industrial REIT worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PLYM. Charles Schwab Investment Management Inc. grew its holdings in Plymouth Industrial REIT by 19.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 562,177 shares of the company’s stock worth $13,532,000 after acquiring an additional 90,645 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Plymouth Industrial REIT by 246.7% in the fourth quarter. BNP Paribas Financial Markets now owns 63,966 shares of the company’s stock worth $1,540,000 after purchasing an additional 45,517 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Plymouth Industrial REIT by 77.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,751 shares of the company’s stock valued at $42,000 after purchasing an additional 764 shares during the period. GW&K Investment Management LLC increased its holdings in Plymouth Industrial REIT by 44,205.6% in the fourth quarter. GW&K Investment Management LLC now owns 119,625 shares of the company’s stock valued at $2,879,000 after purchasing an additional 119,355 shares during the period. Finally, Bard Associates Inc. raised its position in Plymouth Industrial REIT by 2.6% during the 4th quarter. Bard Associates Inc. now owns 30,203 shares of the company’s stock worth $734,000 after purchasing an additional 754 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Price Performance

Shares of PLYM opened at $22.95 on Friday. The firm has a market cap of $1.04 billion, a PE ratio of 53.37, a price-to-earnings-growth ratio of 1.72 and a beta of 1.36. Plymouth Industrial REIT, Inc. has a 52-week low of $19.21 and a 52-week high of $25.55. The business’s 50 day moving average price is $23.45 and its two-hundred day moving average price is $21.98. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.16 and a current ratio of 0.16.

Insider Activity

In other 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 transaction of $13,285,868.04. Following the transaction, the insider now owns 4,474,292 shares in the company, valued at $105,503,805.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PLYM shares. JMP Securities reiterated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. Barclays upped their target price on Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Truist Financial raised 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. B. Riley upped their price objective on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. decreased 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 report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Plymouth Industrial REIT currently has a consensus rating of “Hold” and a consensus target price of $25.57.

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.