Pensionfund Sabic Lowers Stock Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Pensionfund Sabic cut its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 13.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,027 shares of the company’s stock after selling 6,000 shares during the quarter. Pensionfund Sabic owned approximately 0.08% of Plymouth Industrial REIT worth $859,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. boosted its stake in shares of Plymouth Industrial REIT by 2.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 22,192 shares of the company’s stock worth $470,000 after buying an additional 490 shares during the last quarter. American International Group Inc. boosted its position in Plymouth Industrial REIT by 2.5% in the first quarter. American International Group Inc. now owns 22,508 shares of the company’s stock worth $506,000 after purchasing an additional 544 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Plymouth Industrial REIT by 1.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 42,914 shares of the company’s stock valued at $966,000 after purchasing an additional 578 shares during the period. State of Alaska Department of Revenue increased its position in shares of Plymouth Industrial REIT by 4.0% during the 1st quarter. State of Alaska Department of Revenue now owns 21,590 shares of the company’s stock valued at $484,000 after purchasing an additional 832 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Plymouth Industrial REIT by 8.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 11,838 shares of the company’s stock worth $266,000 after purchasing an additional 939 shares during the period. 92.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PLYM. BMO Capital Markets decreased their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Wednesday, August 28th. Truist Financial lifted their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Barclays increased their price objective on Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. B. Riley boosted their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. dropped their price target on Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.57.

Plymouth Industrial REIT Price Performance

Plymouth Industrial REIT stock opened at $20.89 on Friday. The firm has a market capitalization of $948.41 million, a P/E ratio of 38.69, a PEG ratio of 1.62 and a beta of 1.36. Plymouth Industrial REIT, Inc. has a one year low of $19.21 and a one year high of $25.55. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.16 and a quick ratio of 0.16. The business has a fifty day moving average price of $23.08 and a 200-day moving average price of $22.08.

Plymouth Industrial REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.24 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 4.60%. Plymouth Industrial REIT’s dividend payout ratio is currently 177.78%.

Insider Buying and Selling at Plymouth Industrial REIT

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the sale, the insider now owns 4,474,292 shares of the company’s stock, valued at approximately $105,503,805.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

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.