UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM – Free Report) by 137.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,201 shares of the company’s stock after acquiring an additional 38,850 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.15% of Plymouth Industrial REIT worth $1,519,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its stake in shares of Plymouth Industrial REIT by 4.1% during the third quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock worth $99,471,000 after purchasing an additional 174,836 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Plymouth Industrial REIT by 1.0% during the second quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock worth $63,372,000 after purchasing an additional 28,272 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Plymouth Industrial REIT by 24.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock worth $20,583,000 after purchasing an additional 180,003 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of 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 in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Plymouth Industrial REIT by 6.4% during the third quarter. Thrivent Financial for Lutherans now owns 455,092 shares of the company’s stock worth $10,285,000 after purchasing an additional 27,463 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on PLYM. JMP Securities restated a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. Barclays dropped their target price on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Robert W. Baird dropped their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Truist Financial dropped their target price on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Finally, BMO Capital Markets dropped their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $24.33.
Plymouth Industrial REIT Stock Performance
Shares of PLYM stock opened at $18.95 on Tuesday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The business has a 50 day moving average of $19.90 and a two-hundred day moving average of $21.69. Plymouth Industrial REIT, Inc. has a 52 week low of $18.08 and a 52 week high of $25.18. The company has a market cap of $860.14 million, a P/E ratio of 947.50, a PEG ratio of 1.47 and a beta of 1.34.
Plymouth Industrial REIT Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.96 dividend on an annualized basis and a yield of 5.07%. Plymouth Industrial REIT’s payout ratio is currently 4,800.00%.
Insider Buying and Selling at Plymouth Industrial REIT
In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White acquired 5,000 shares of Plymouth Industrial REIT stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $91,950. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey E. Witherell acquired 2,000 shares of Plymouth Industrial REIT stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $18.49 per share, with a total value of $36,980.00. Following the completion of the transaction, the chief executive officer now owns 252,248 shares of the company’s stock, valued at approximately $4,664,065.52. This trade represents a 0.80 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by 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.
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