Virtus Investment Advisers Inc. Takes $802,000 Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Virtus Investment Advisers Inc. purchased a new position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 35,500 shares of the company’s stock, valued at approximately $802,000.

A number of other large investors have also bought and sold shares of the stock. Quarry LP increased its position in shares of Plymouth Industrial REIT by 88.4% in the third quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after acquiring an additional 860 shares during the period. Tidal Investments LLC raised its position in Plymouth Industrial REIT by 5.8% during the 1st quarter. Tidal Investments LLC now owns 19,915 shares of the company’s stock valued at $448,000 after purchasing an additional 1,088 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Plymouth Industrial REIT by 11.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company’s stock worth $290,000 after buying an additional 1,317 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Plymouth Industrial REIT by 17.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,008 shares of the company’s stock valued at $293,000 after buying an additional 1,892 shares during the period. Finally, Copeland Capital Management LLC bought a new position in shares of Plymouth Industrial REIT during the third quarter valued at approximately $43,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Plymouth Industrial REIT Stock Up 1.0 %

PLYM stock opened at $18.65 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The business has a 50 day moving average of $20.44 and a 200 day moving average of $21.78. Plymouth Industrial REIT, Inc. has a twelve month low of $18.08 and a twelve month high of $25.55. The firm has a market cap of $846.50 million, a PE ratio of 932.50, a price-to-earnings-growth ratio of 1.44 and a beta of 1.34.

Plymouth Industrial REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date was Monday, September 30th. Plymouth Industrial REIT’s payout ratio is 4,800.00%.

Insider Buying and Selling at Plymouth Industrial REIT

In related news, CEO Jeffrey E. Witherell bought 2,000 shares of the stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $18.49 per share, for a total transaction of $36,980.00. Following the purchase, the chief executive officer now owns 252,248 shares of the company’s stock, valued at approximately $4,664,065.52. The trade was a 0.80 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 purchased at an average price of $18.39 per share, with a total value of $91,950.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at approximately $91,950. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PLYM shares. BMO Capital Markets reduced their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 28th. Barclays reduced their price target on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. BNP Paribas lowered shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective for the company. in a report on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. Finally, Robert W. Baird lowered their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $24.33.

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.