Point72 Asia Singapore Pte. Ltd. Grows Stock Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 431.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,447 shares of the company’s stock after purchasing an additional 7,668 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Plymouth Industrial REIT were worth $202,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. New York State Teachers Retirement System purchased a new stake in shares of Plymouth Industrial REIT during the first quarter worth approximately $89,000. Garner Asset Management Corp purchased a new stake in shares of Plymouth Industrial REIT in the 4th quarter valued at approximately $98,000. EntryPoint Capital LLC raised its holdings in shares of Plymouth Industrial REIT by 33.9% in the 1st 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. Blue Trust Inc. purchased a new stake in shares of Plymouth Industrial REIT during the 2nd quarter worth $207,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of Plymouth Industrial REIT by 8.6% during the first quarter. Daiwa Securities Group Inc. now owns 11,838 shares of the company’s stock worth $266,000 after purchasing an additional 939 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insiders Place Their Bets

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 value of $13,285,868.04. Following the completion of the sale, the insider now directly owns 4,474,292 shares of the company’s stock, valued at $105,503,805.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by insiders.

Plymouth Industrial REIT Price Performance

Shares of NYSE PLYM opened at $22.77 on Friday. The stock has a market cap of $1.03 billion, a P/E ratio of 52.95, a P/E/G ratio of 1.71 and a beta of 1.36. Plymouth Industrial REIT, Inc. has a twelve month low of $19.21 and a twelve month high of $25.55. The stock has a 50 day moving average of $23.52 and a two-hundred day moving average of $22.07. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49.

Plymouth Industrial REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is currently 223.26%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. BMO Capital Markets cut 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. JPMorgan Chase & Co. decreased their target price on Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Barclays increased their price target on shares of Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Truist Financial boosted their price objective on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, B. Riley increased their target price on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $25.57.

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.