Hennion & Walsh Asset Management Inc. Buys 2,697 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Hennion & Walsh Asset Management Inc. lifted its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 30.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,628 shares of the company’s stock after purchasing an additional 2,697 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Plymouth Industrial REIT were worth $207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its position in shares of Plymouth Industrial REIT by 9.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 198,431 shares of the company’s stock worth $4,242,000 after buying an additional 17,710 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Plymouth Industrial REIT by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company’s stock worth $11,480,000 after acquiring an additional 4,265 shares during the period. Thrivent Financial for Lutherans grew its holdings in Plymouth Industrial REIT by 0.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 427,629 shares of the company’s stock worth $9,143,000 after acquiring an additional 2,683 shares in the last quarter. Marshall Wace LLP purchased a new position in Plymouth Industrial REIT during the 2nd quarter valued at about $978,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in Plymouth Industrial REIT by 431.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock valued at $202,000 after purchasing an additional 7,668 shares during the period. Institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. BNP Paribas downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research note on Friday, November 8th. Barclays cut their price target on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. 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 Tuesday, January 14th. JPMorgan Chase & Co. dropped their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Finally, Robert W. Baird reduced their target price on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.89.

Insider Buying and Selling

In related news, Director Pendleton P. Jr. White acquired 5,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $18.39 per share, with a total value of $91,950.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at $91,950. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey E. Witherell bought 2,000 shares of the stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $18.49 per share, for a total transaction of $36,980.00. Following the purchase, the chief executive officer now directly owns 252,248 shares of the company’s stock, valued at approximately $4,664,065.52. The trade was a 0.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Plymouth Industrial REIT Trading Up 3.2 %

Shares of NYSE:PLYM opened at $17.18 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market capitalization of $779.66 million, a P/E ratio of 858.85 and a beta of 1.34. The business’s 50-day moving average is $18.13 and its 200 day moving average is $21.04. Plymouth Industrial REIT, Inc. has a 1 year low of $16.37 and a 1 year high of $24.71.

Plymouth Industrial REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.59%. The ex-dividend date of this dividend is Tuesday, December 31st. Plymouth Industrial REIT’s payout ratio is currently 4,800.00%.

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.