Point72 Asia Singapore Pte. Ltd. Increases Stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Point72 Asia Singapore Pte. Ltd. raised its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 431.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. New York State Teachers Retirement System bought a new stake in shares of Plymouth Industrial REIT during the first quarter valued at approximately $89,000. Garner Asset Management Corp bought a new position in shares of Plymouth Industrial REIT during the fourth quarter valued at $98,000. EntryPoint Capital LLC boosted its position in shares of Plymouth Industrial REIT by 33.9% during the first quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock valued at $112,000 after buying an additional 1,266 shares during the last quarter. Blue Trust Inc. bought a new stake in Plymouth Industrial REIT in the 2nd quarter worth about $207,000. Finally, Daiwa Securities Group Inc. raised its position in Plymouth Industrial REIT by 8.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 11,838 shares of the company’s stock worth $266,000 after buying an additional 939 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLYM has been the topic of a number of recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. Wedbush raised their target price on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. 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. dropped their price target 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. Finally, BMO Capital Markets lowered their target price 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $25.57.

Plymouth Industrial REIT Trading Down 1.3 %

NYSE:PLYM opened at $22.02 on Thursday. Plymouth Industrial REIT, Inc. has a one year low of $19.21 and a one year high of $25.55. The business has a fifty day moving average price of $23.38 and a 200-day moving average price of $22.10. The firm has a market capitalization of $999.71 million, a price-to-earnings ratio of 51.21, a price-to-earnings-growth ratio of 1.73 and a beta of 1.36. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.16 and a quick ratio of 0.16.

Plymouth Industrial REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 yield of 4.36%. The ex-dividend date is Monday, September 30th. Plymouth Industrial REIT’s payout ratio is 223.26%.

Insider Transactions at Plymouth Industrial REIT

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $105,503,805.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

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.