F M Investments LLC Sells 190,911 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

F M Investments LLC trimmed its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 67.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,140 shares of the company's stock after selling 190,911 shares during the period. F M Investments LLC owned 0.21% of Plymouth Industrial REIT worth $1,676,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PLYM. Legal & General Group Plc boosted its holdings in Plymouth Industrial REIT by 17.3% in the fourth quarter. Legal & General Group Plc now owns 41,472 shares of the company's stock worth $738,000 after purchasing an additional 6,119 shares in the last quarter. Invesco Ltd. lifted its position in shares of Plymouth Industrial REIT by 120.6% in the fourth quarter. Invesco Ltd. now owns 151,769 shares of the company's stock worth $2,701,000 after buying an additional 82,965 shares during the last quarter. Polymer Capital Management US LLC bought a new stake in shares of Plymouth Industrial REIT during the 4th quarter worth about $236,000. Cerity Partners LLC increased its holdings in shares of Plymouth Industrial REIT by 8.1% during the 4th quarter. Cerity Partners LLC now owns 37,088 shares of the company's stock valued at $660,000 after acquiring an additional 2,772 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Plymouth Industrial REIT by 38.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company's stock valued at $54,000 after acquiring an additional 844 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have issued reports on PLYM shares. Robert W. Baird decreased their target price on 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. KeyCorp lowered their target price on shares of Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Barclays dropped their target price on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating on the stock in a report on Monday, March 31st. Truist Financial decreased their price target on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a "hold" rating for the company in a report on Monday, March 24th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Plymouth Industrial REIT has a consensus rating of "Hold" and an average target price of $21.20.

Plymouth Industrial REIT Stock Performance

Shares of PLYM traded down $0.19 during trading hours on Tuesday, reaching $14.14. 211,892 shares of the company traded hands, compared to its average volume of 301,507. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. The stock's fifty day moving average is $16.27 and its 200 day moving average is $18.04. Plymouth Industrial REIT, Inc. has a 1-year low of $7.19 and a 1-year high of $24.71. The stock has a market cap of $644.23 million, a P/E ratio of 707.15 and a beta of 1.19.

Plymouth Industrial REIT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 6.79%. Plymouth Industrial REIT's dividend payout ratio (DPR) is 31.37%.

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.