Jennison Associates LLC Boosts Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Jennison Associates LLC grew its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,401,384 shares of the company's stock after buying an additional 174,836 shares during the period. Jennison Associates LLC owned 9.69% of Plymouth Industrial REIT worth $99,471,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Copeland Capital Management LLC purchased a new position in Plymouth Industrial REIT in the 3rd quarter worth approximately $43,000. EntryPoint Capital LLC grew its position in Plymouth Industrial REIT by 33.9% in the 1st quarter. EntryPoint Capital LLC now owns 4,997 shares of the company's stock valued at $112,000 after acquiring an additional 1,266 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Plymouth Industrial REIT by 431.0% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company's stock valued at $202,000 after acquiring an additional 7,668 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in Plymouth Industrial REIT in the 3rd quarter valued at $202,000. Finally, SG Americas Securities LLC bought a new position in Plymouth Industrial REIT in the 3rd quarter valued at $204,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White bought 5,000 shares of Plymouth Industrial REIT stock in a transaction on Friday, November 15th. The shares were bought at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company's stock, valued at $91,950. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffrey E. Witherell purchased 2,000 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the purchase, the chief executive officer now owns 252,248 shares in the company, valued at approximately $4,664,065.52. The trade was a 0.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PLYM shares. BMO Capital Markets cut their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 28th. B. Riley upped their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a "buy" rating in a report on Monday, August 5th. Wedbush upped their target price on Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Monday, August 5th. Truist Financial upped their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a "buy" rating in a report on Wednesday, August 28th. Finally, 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $24.89.

Plymouth Industrial REIT Stock Up 0.7 %

Plymouth Industrial REIT stock traded up $0.13 during midday trading on Thursday, reaching $18.86. The company's stock had a trading volume of 176,099 shares, compared to its average volume of 257,783. The stock's 50-day simple moving average is $21.20 and its 200-day simple moving average is $21.91. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. Plymouth Industrial REIT, Inc. has a 52-week low of $18.08 and a 52-week high of $25.55. The stock has a market capitalization of $856.08 million, a P/E ratio of 943.03, a PEG ratio of 1.44 and a beta of 1.37.

Plymouth Industrial REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date was Monday, September 30th. Plymouth Industrial REIT's dividend payout ratio is presently 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.