B. Riley Wealth Advisors Inc. Has $393,000 Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

B. Riley Wealth Advisors Inc. cut its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 18.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,189 shares of the company’s stock after selling 4,003 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Plymouth Industrial REIT were worth $393,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PLYM. Vanguard Group Inc. raised its stake in Plymouth Industrial REIT by 2.8% in the first 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 in the last quarter. Jennison Associates LLC increased its holdings in Plymouth Industrial REIT by 5.9% in the 1st quarter. Jennison Associates LLC now owns 4,183,540 shares of the company’s stock valued at $94,130,000 after buying an additional 234,536 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of Plymouth Industrial REIT by 1.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock worth $63,372,000 after acquiring an additional 28,272 shares during the period. Wellington Management Group LLP lifted its stake in Plymouth Industrial REIT by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 1,669,720 shares of the company’s stock worth $40,190,000 after purchasing an additional 29,479 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Plymouth Industrial REIT by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company’s stock worth $11,480,000 after purchasing an additional 4,265 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Plymouth Industrial REIT Stock Performance

NYSE:PLYM opened at $21.54 on Tuesday. The stock’s 50-day moving average is $23.30 and its 200-day moving average is $22.10. Plymouth Industrial REIT, Inc. has a 1-year low of $19.21 and a 1-year high of $25.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49. The stock has a market cap of $977.92 million, a P/E ratio of 50.09, a price-to-earnings-growth ratio of 1.66 and a beta of 1.36.

Plymouth Industrial REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend is Monday, September 30th. Plymouth Industrial REIT’s payout ratio is currently 223.26%.

Insider Transactions at Plymouth Industrial REIT

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the completion of the transaction, the insider now directly owns 4,474,292 shares of the company’s stock, valued at $105,503,805.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PLYM. Wedbush boosted their price target on Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. JPMorgan Chase & Co. lowered 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 raised 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 lifted their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets dropped their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Wednesday, August 28th. One 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.com, Plymouth Industrial REIT presently has a consensus rating of “Hold” and an average 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.