Foster & Motley Inc. Lowers Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Foster & Motley Inc. trimmed its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 45.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 41,992 shares of the company’s stock after selling 35,126 shares during the period. Foster & Motley Inc.’s holdings in Plymouth Industrial REIT were worth $1,011,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PLYM. International Assets Investment Management LLC increased its stake in shares of Plymouth Industrial REIT by 2,306.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,155 shares of the company’s stock valued at $28,000 after purchasing an additional 1,107 shares in the last quarter. Spirit of America Management Corp NY bought a new position in Plymouth Industrial REIT during the 3rd quarter valued at approximately $31,000. Signaturefd LLC increased its position in Plymouth Industrial REIT by 40.8% during the 4th quarter. Signaturefd LLC now owns 1,731 shares of the company’s stock valued at $42,000 after buying an additional 502 shares in the last quarter. Federated Hermes Inc. raised its stake in Plymouth Industrial REIT by 774.4% during the fourth quarter. Federated Hermes Inc. now owns 1,845 shares of the company’s stock valued at $44,000 after buying an additional 1,634 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Plymouth Industrial REIT by 35.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,559 shares of the company’s stock worth $221,000 after acquiring an additional 2,762 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PLYM. Barclays began coverage on Plymouth Industrial REIT in a report on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 price target for the company. JMP Securities upgraded shares of Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research note on Monday, January 22nd. Finally, Truist Financial reduced their price target on shares of Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat, Plymouth Industrial REIT has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Plymouth Industrial REIT Price Performance

Shares of PLYM opened at $21.18 on Wednesday. The firm has a fifty day simple moving average of $21.63 and a two-hundred day simple moving average of $22.00. The firm has a market cap of $960.92 million, a PE ratio of 111.45, a P/E/G ratio of 1.55 and a beta of 1.36. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.47. Plymouth Industrial REIT, Inc. has a 1-year low of $19.21 and a 1-year high of $25.55.

Plymouth Industrial REIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.24 dividend. This is a boost from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date is Wednesday, March 27th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 505.26%.

Insider Transactions at Plymouth Industrial REIT

In related news, Director Pendleton P. White bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $21.58 per share, for a total transaction of $86,320.00. Following the completion of the transaction, the director now owns 4,000 shares in the company, valued at $86,320. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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.