Verition Fund Management LLC Takes Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Verition Fund Management LLC purchased a new position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,230 shares of the company’s stock, valued at approximately $254,000.

A number of other hedge funds have also added to or reduced their stakes in PLYM. Copeland Capital Management LLC bought a new position in shares of Plymouth Industrial REIT in the 3rd quarter valued at $43,000. Loomis Sayles & Co. L P grew its position in Plymouth Industrial REIT by 3,130.6% in the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after acquiring an additional 1,941 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in Plymouth Industrial REIT by 431.0% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock worth $202,000 after acquiring an additional 7,668 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Plymouth Industrial REIT in the third quarter worth about $202,000. Finally, SG Americas Securities LLC bought a new stake in shares of Plymouth Industrial REIT during the 3rd quarter valued at approximately $204,000. 92.67% of the stock is owned by institutional investors.

Insider Activity at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, CEO Jeffrey E. Witherell bought 2,000 shares of the stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the completion of the acquisition, the chief executive officer now owns 252,248 shares in the company, valued at $4,664,065.52. This trade represents a 0.80 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Pendleton P. Jr. White purchased 5,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $91,950. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Plymouth Industrial REIT Stock Performance

NYSE:PLYM opened at $18.93 on Friday. The company has a market capitalization of $859.21 million, a PE ratio of 946.50, a P/E/G ratio of 1.46 and a beta of 1.34. Plymouth Industrial REIT, Inc. has a fifty-two week low of $18.08 and a fifty-two week high of $25.55. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. The company has a 50 day simple moving average of $19.95 and a two-hundred day simple moving average of $21.69.

Plymouth Industrial REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend is Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio is presently 4,800.00%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. Robert W. Baird reduced their price objective 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. Barclays dropped their target price on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. BMO Capital Markets reduced their price target 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. Finally, Truist Financial dropped their price objective on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $24.33.

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.