Charles Schwab Investment Management Inc. reduced its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 27.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 659,204 shares of the company's stock after selling 251,547 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.45% of Plymouth Industrial REIT worth $11,734,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its position in shares of Plymouth Industrial REIT by 6.4% in the third quarter. Thrivent Financial for Lutherans now owns 455,092 shares of the company's stock worth $10,285,000 after acquiring an additional 27,463 shares in the last quarter. Barclays PLC boosted its position in Plymouth Industrial REIT by 321.2% during the 3rd quarter. Barclays PLC now owns 63,101 shares of the company's stock worth $1,426,000 after purchasing an additional 48,119 shares during the period. Foundry Partners LLC acquired a new stake in Plymouth Industrial REIT in the 3rd quarter valued at $3,725,000. Geode Capital Management LLC raised its position in Plymouth Industrial REIT by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company's stock valued at $23,685,000 after purchasing an additional 29,924 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Plymouth Industrial REIT by 137.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,201 shares of the company's stock worth $1,519,000 after purchasing an additional 38,850 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.
Plymouth Industrial REIT Stock Performance
Shares of PLYM traded down $0.31 during mid-day trading on Tuesday, hitting $16.79. The stock had a trading volume of 398,553 shares, compared to its average volume of 285,122. Plymouth Industrial REIT, Inc. has a fifty-two week low of $16.06 and a fifty-two week high of $24.71. 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 company has a market cap of $764.80 million, a PE ratio of 839.50 and a beta of 1.45. The company's fifty day simple moving average is $16.84 and its two-hundred day simple moving average is $18.93.
Plymouth Industrial REIT Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 5.72%. Plymouth Industrial REIT's payout ratio is 31.37%.
Wall Street Analyst Weigh In
PLYM has been the topic of several recent research reports. JMP Securities reissued a "market outperform" rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. Wedbush set a $17.00 target price on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. Truist Financial dropped their price target on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a "hold" rating on the stock in a research note on Monday. Robert W. Baird decreased their price objective on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. dropped their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $22.00.
Get Our Latest Analysis on Plymouth Industrial REIT
Plymouth Industrial REIT Company Profile
(
Free Report)
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.
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