Renaissance Technologies LLC Has $3.37 Million Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Renaissance Technologies LLC reduced its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 20.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 157,812 shares of the company’s stock after selling 40,000 shares during the quarter. Renaissance Technologies LLC owned 0.35% of Plymouth Industrial REIT worth $3,374,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PLYM. Westwood Holdings Group Inc. raised its stake in Plymouth Industrial REIT by 10.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,935,803 shares of the company’s stock valued at $66,056,000 after purchasing an additional 286,434 shares during the period. F M Investments LLC acquired a new stake in Plymouth Industrial REIT during the 2nd quarter valued at $6,088,000. Jennison Associates LLC raised its stake in Plymouth Industrial REIT by 5.9% during the 1st quarter. Jennison Associates LLC now owns 4,183,540 shares of the company’s stock valued at $94,130,000 after purchasing an additional 234,536 shares during the period. Heritage Wealth Advisors raised its stake in Plymouth Industrial REIT by 530.6% during the 1st quarter. Heritage Wealth Advisors now owns 208,730 shares of the company’s stock valued at $4,696,000 after purchasing an additional 175,630 shares during the period. Finally, Vanguard Group Inc. raised its stake in Plymouth Industrial REIT by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock valued at $95,943,000 after purchasing an additional 115,318 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Plymouth Industrial REIT Stock Up 0.3 %

Shares of PLYM stock opened at $22.84 on Monday. The stock’s 50 day simple moving average is $23.50 and its 200 day simple moving average is $22.09. Plymouth Industrial REIT, Inc. has a twelve month low of $19.21 and a twelve month high of $25.55. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 53.12, a PEG ratio of 1.72 and a beta of 1.36.

Plymouth Industrial REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is 223.26%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PLYM shares. Truist Financial boosted 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 note on Wednesday, August 28th. JPMorgan Chase & Co. lowered their target price on Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Wedbush upped their target price on Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. B. Riley lifted their price target on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, BMO Capital Markets dropped their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $25.57.

Insider Transactions at Plymouth Industrial REIT

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of Plymouth Industrial REIT stock in a transaction on 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 transaction, the insider now owns 4,474,292 shares in the company, valued at approximately $105,503,805.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.

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.