Foundry Partners LLC Acquires New Stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Foundry Partners LLC purchased a new stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 164,825 shares of the company's stock, valued at approximately $3,725,000. Foundry Partners LLC owned about 0.36% of Plymouth Industrial REIT at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PLYM. Jennison Associates LLC lifted its stake in Plymouth Industrial REIT by 4.1% during the third quarter. Jennison Associates LLC now owns 4,401,384 shares of the company's stock valued at $99,471,000 after purchasing an additional 174,836 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Plymouth Industrial REIT by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company's stock valued at $95,943,000 after acquiring an additional 115,318 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Plymouth Industrial REIT by 1.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company's stock valued at $63,372,000 after acquiring an additional 28,272 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Plymouth Industrial REIT by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company's stock worth $11,480,000 after acquiring an additional 4,265 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Plymouth Industrial REIT by 6.4% in the 3rd 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 during the last quarter. Institutional investors own 92.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. BNP Paribas lowered Plymouth Industrial REIT from an "outperform" rating to a "neutral" rating and set a $23.00 price target for the company. in a research report on Friday, November 8th. Barclays decreased their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an "equal weight" rating for the company in a report on Monday. Truist Financial upped their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a "buy" rating in a research report on Wednesday, August 28th. Robert W. Baird lowered their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 12th. Finally, B. Riley increased their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a "buy" rating in a report on Monday, August 5th. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $24.89.

Insiders Place Their Bets

In related news, Director Pendleton P. Jr. White purchased 5,000 shares of Plymouth Industrial REIT stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company's stock, valued at $91,950. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey E. Witherell bought 2,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the transaction, the chief executive officer now owns 252,248 shares of the company's stock, valued at $4,664,065.52. The trade was a 0.80 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company's stock.

Plymouth Industrial REIT Stock Down 0.1 %

PLYM traded down $0.01 during trading on Friday, reaching $18.77. 359,857 shares of the stock traded hands, compared to its average volume of 258,233. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market cap of $851.97 million, a price-to-earnings ratio of 938.50, a price-to-earnings-growth ratio of 1.44 and a beta of 1.37. Plymouth Industrial REIT, Inc. has a fifty-two week low of $18.08 and a fifty-two week high of $25.55. The stock's 50-day simple moving average is $21.11 and its two-hundred day simple moving average is $21.89.

Plymouth Industrial REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 5.11%. Plymouth Industrial REIT's dividend payout ratio (DPR) is 4,800.00%.

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.