Geode Capital Management LLC Boosts Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Geode Capital Management LLC boosted its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 2.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,047,832 shares of the company’s stock after purchasing an additional 29,924 shares during the quarter. Geode Capital Management LLC’s holdings in Plymouth Industrial REIT were worth $23,685,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Quarry LP grew its holdings in Plymouth Industrial REIT by 88.4% during the third quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after acquiring an additional 860 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Plymouth Industrial REIT by 1.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock valued at $1,064,000 after acquiring an additional 900 shares during the period. Daiwa Securities Group Inc. boosted its position in Plymouth Industrial REIT by 11.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company’s stock worth $290,000 after purchasing an additional 1,317 shares in the last quarter. Copeland Capital Management LLC acquired a new stake in shares of Plymouth Industrial REIT during the 3rd quarter worth approximately $43,000. Finally, Loomis Sayles & Co. L P increased its holdings in shares of Plymouth Industrial REIT by 3,130.6% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Trading Down 1.2 %

Shares of Plymouth Industrial REIT stock opened at $17.73 on Friday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. Plymouth Industrial REIT, Inc. has a twelve month low of $17.22 and a twelve month high of $24.71. The firm has a market capitalization of $804.75 million, a PE ratio of 886.50, a P/E/G ratio of 1.47 and a beta of 1.34. The firm’s 50-day moving average price is $19.26 and its 200 day moving average price is $21.49.

Plymouth Industrial REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.41%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 4,800.00%.

Analysts Set New Price Targets

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

Insider Activity

In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $18.39 per share, with a total value of $91,950.00. Following the purchase, the director now owns 5,000 shares in the company, valued at approximately $91,950. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey E. Witherell acquired 2,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $18.49 per share, with a total value of $36,980.00. Following the acquisition, the chief executive officer now owns 252,248 shares in the company, valued at $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 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.