Geode Capital Management LLC Increases Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Geode Capital Management LLC boosted its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,047,832 shares of the company's stock after buying an additional 29,924 shares during the quarter. Geode Capital Management LLC owned approximately 2.31% of Plymouth Industrial REIT worth $23,685,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans lifted its stake 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 during the period. Foundry Partners LLC acquired a new position in shares of Plymouth Industrial REIT in the 3rd quarter worth approximately $3,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Plymouth Industrial REIT by 137.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,201 shares of the company's stock valued at $1,519,000 after purchasing an additional 38,850 shares during the last quarter. Meros Investment Management LP increased its position in shares of Plymouth Industrial REIT by 38.2% during the second quarter. Meros Investment Management LP now owns 402,923 shares of the company's stock worth $8,614,000 after buying an additional 111,339 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Plymouth Industrial REIT by 24.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company's stock worth $20,583,000 after buying an additional 180,003 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Plymouth Industrial REIT

In related news, Director Pendleton P. Jr. White purchased 5,000 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was acquired 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 owns 5,000 shares of the company's stock, valued at $91,950. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey E. Witherell purchased 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, with a total value of $36,980.00. Following the completion of the transaction, the chief executive officer now directly owns 252,248 shares in the company, 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. Insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

PLYM has been the subject of a number of recent analyst reports. Truist Financial decreased their price target on Plymouth Industrial REIT from $27.00 to $22.00 and set a "buy" rating for the company in a report on Friday, November 29th. Robert W. Baird decreased 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. Barclays lowered their target price on Plymouth Industrial REIT from $25.00 to $22.00 and set an "equal weight" rating for the company in a report on Monday, November 18th. Finally, BNP Paribas cut Plymouth Industrial REIT from an "outperform" rating to a "neutral" rating and set a $23.00 price target on the stock. in a report on Friday, November 8th. One research 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, Plymouth Industrial REIT has an average rating of "Hold" and a consensus price target of $24.33.

Plymouth Industrial REIT Stock Down 1.2 %

Shares of NYSE PLYM traded down $0.21 during midday trading on Friday, hitting $17.73. 252,187 shares of the stock traded hands, compared to its average volume of 266,328. Plymouth Industrial REIT, Inc. has a one year low of $17.22 and a one year high of $24.71. The business has a 50 day moving average price of $19.26 and a two-hundred day moving average price of $21.49. 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 company has a market cap of $804.75 million, a PE ratio of 886.50, a P/E/G ratio of 1.47 and a beta of 1.34.

Plymouth Industrial REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 annualized dividend and a yield of 5.41%. Plymouth Industrial REIT's payout ratio is 4,800.00%.

About Plymouth Industrial REIT

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.