Jennison Associates LLC Increases Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Jennison Associates LLC raised its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 25.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,949,004 shares of the company’s stock after buying an additional 809,570 shares during the quarter. Jennison Associates LLC owned about 8.73% of Plymouth Industrial REIT worth $95,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in PLYM. SG Americas Securities LLC bought a new stake in shares of Plymouth Industrial REIT during the 3rd quarter worth approximately $390,000. Spirit of America Management Corp NY bought a new stake in shares of Plymouth Industrial REIT during the third quarter worth $31,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Plymouth Industrial REIT by 35.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,559 shares of the company’s stock valued at $221,000 after purchasing an additional 2,762 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of Plymouth Industrial REIT by 34.3% in the third quarter. Teacher Retirement System of Texas now owns 20,089 shares of the company’s stock worth $421,000 after purchasing an additional 5,135 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in Plymouth Industrial REIT by 129.5% during the 3rd quarter. Private Advisor Group LLC now owns 35,337 shares of the company’s stock valued at $727,000 after buying an additional 19,938 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Performance

Shares of Plymouth Industrial REIT stock opened at $20.76 on Tuesday. The firm has a market capitalization of $942.09 million, a P/E ratio of 109.26, a PEG ratio of 1.52 and a beta of 1.36. Plymouth Industrial REIT, Inc. has a 52 week low of $19.21 and a 52 week high of $25.55. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.47. The company has a 50 day moving average price of $21.64 and a 200 day moving average price of $21.99.

Plymouth Industrial REIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.62%. This is a boost from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 505.26%.

Analyst Ratings Changes

PLYM has been the topic of a number of research reports. JMP Securities raised shares of Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a research report on Monday, January 22nd. Barclays assumed coverage on shares of Plymouth Industrial REIT in a report on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 price objective on the stock. Finally, Truist Financial lowered their target price on Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Insider Transactions at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, Director Pendleton P. White bought 4,000 shares of Plymouth Industrial REIT stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $21.58 per share, with a total value of $86,320.00. Following the completion of the acquisition, the director now directly owns 4,000 shares in the company, valued at approximately $86,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% 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.