Foster & Motley Inc. Has $1.01 Million Stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Foster & Motley Inc. lessened its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 45.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 41,992 shares of the company’s stock after selling 35,126 shares during the period. Foster & Motley Inc. owned 0.09% of Plymouth Industrial REIT worth $1,011,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC increased its position in Plymouth Industrial REIT by 25.8% in the 4th quarter. Jennison Associates LLC now owns 3,949,004 shares of the company’s stock valued at $95,053,000 after buying an additional 809,570 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Plymouth Industrial REIT by 53.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 471,532 shares of the company’s stock worth $9,879,000 after acquiring an additional 164,031 shares during the last quarter. Meros Investment Management LP raised its holdings in shares of Plymouth Industrial REIT by 7.3% in the 3rd quarter. Meros Investment Management LP now owns 333,119 shares of the company’s stock worth $6,979,000 after acquiring an additional 22,732 shares during the last quarter. Great Lakes Advisors LLC lifted its position in Plymouth Industrial REIT by 19.9% in the 3rd quarter. Great Lakes Advisors LLC now owns 322,562 shares of the company’s stock valued at $6,758,000 after acquiring an additional 53,508 shares in the last quarter. Finally, Callodine Capital Management LP boosted its stake in Plymouth Industrial REIT by 28.6% during the 3rd quarter. Callodine Capital Management LP now owns 270,000 shares of the company’s stock valued at $5,656,000 after purchasing an additional 60,006 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Plymouth Industrial REIT Price Performance

Plymouth Industrial REIT stock opened at $21.18 on Wednesday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.47. The business’s 50 day simple moving average is $21.63 and its 200 day simple moving average is $22.00. Plymouth Industrial REIT, Inc. has a 12 month low of $19.21 and a 12 month high of $25.55. The company has a market cap of $960.92 million, a price-to-earnings ratio of 111.45, a PEG ratio of 1.55 and a beta of 1.36.

Plymouth Industrial REIT Increases Dividend

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

Insider Transactions at Plymouth Industrial REIT

In other news, Director Pendleton P. White acquired 4,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $21.58 per share, for a total transaction of $86,320.00. Following the purchase, the director now owns 4,000 shares of the company’s stock, valued at approximately $86,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on PLYM. Barclays started coverage on Plymouth Industrial REIT in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 price objective on the stock. Truist Financial reduced 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. Finally, JMP Securities upgraded Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a report on Monday, January 22nd. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

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.