Quarry LP Has $41,000 Stock Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Quarry LP raised its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 88.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,833 shares of the company’s stock after buying an additional 860 shares during the quarter. Quarry LP’s holdings in Plymouth Industrial REIT were worth $41,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its holdings in Plymouth Industrial REIT by 6.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 455,092 shares of the company’s stock valued at $10,285,000 after buying an additional 27,463 shares in the last quarter. Foundry Partners LLC acquired a new position in Plymouth Industrial REIT in the 3rd quarter valued at $3,725,000. Meros Investment Management LP grew its holdings in Plymouth Industrial REIT by 38.2% in the 2nd quarter. Meros Investment Management LP now owns 402,923 shares of the company’s stock valued at $8,614,000 after buying an additional 111,339 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Plymouth Industrial REIT by 24.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock valued at $20,583,000 after acquiring an additional 180,003 shares during the period. Finally, Westwood Holdings Group Inc. lifted its position in shares of Plymouth Industrial REIT by 1.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock valued at $63,372,000 after acquiring an additional 28,272 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PLYM. BMO Capital Markets cut their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a research report on Wednesday, August 28th. BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price for the company. in a research report on Friday, November 8th. Truist Financial cut their target price on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, November 29th. JMP Securities reiterated a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. Finally, Barclays dropped their price objective 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $24.33.

Plymouth Industrial REIT Price Performance

Plymouth Industrial REIT stock opened at $18.83 on Wednesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $854.67 million, a PE ratio of 960.25, a P/E/G ratio of 1.44 and a beta of 1.34. Plymouth Industrial REIT, Inc. has a 12 month low of $18.08 and a 12 month high of $25.55. The stock has a 50-day moving average price of $20.21 and a two-hundred day moving average price of $21.74.

Plymouth Industrial REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 5.10%. Plymouth Industrial REIT’s dividend payout ratio is presently 4,800.00%.

Insider Buying and Selling at Plymouth Industrial REIT

In other news, CEO Jeffrey E. Witherell bought 2,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $18.49 per share, for a total transaction 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 $4,664,065.52. This trade represents a 0.80 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Pendleton P. Jr. White bought 5,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $18.39 per share, with a total value of $91,950.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $91,950. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

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.