JPMorgan Chase & Co. Buys 66,886 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

JPMorgan Chase & Co. increased its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 8.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 890,653 shares of the company's stock after purchasing an additional 66,886 shares during the period. JPMorgan Chase & Co. owned approximately 1.96% of Plymouth Industrial REIT worth $20,129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PLYM. Quarry LP boosted its position in Plymouth Industrial REIT by 88.4% during the third quarter. Quarry LP now owns 1,833 shares of the company's stock valued at $41,000 after purchasing an additional 860 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Plymouth Industrial REIT by 1.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company's stock valued at $1,064,000 after buying an additional 900 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Plymouth Industrial REIT by 11.4% in the third quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company's stock valued at $290,000 after buying an additional 1,317 shares in the last quarter. Tidal Investments LLC increased its holdings in Plymouth Industrial REIT by 7.4% during the third quarter. Tidal Investments LLC now owns 23,433 shares of the company's stock worth $530,000 after buying an additional 1,614 shares during the last quarter. Finally, Copeland Capital Management LLC bought a new stake in Plymouth Industrial REIT during the third quarter worth $43,000. Institutional investors own 92.67% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Barclays decreased their price objective on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Monday, November 18th. Truist Financial reduced 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 dropped their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 12th. Finally, BNP Paribas cut Plymouth Industrial REIT from an "outperform" rating to a "neutral" rating and set a $23.00 price objective for the company. in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $24.33.

Insider Transactions at Plymouth Industrial REIT

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

Plymouth Industrial REIT Price Performance

Shares of Plymouth Industrial REIT stock traded down $0.42 during midday trading on Friday, hitting $16.56. 497,484 shares of the company traded hands, compared to its average volume of 239,181. The firm's fifty day moving average price is $18.58 and its 200-day moving average price is $21.23. The stock has a market cap of $751.64 million, a price-to-earnings ratio of 828.00, a PEG ratio of 1.47 and a beta of 1.34. Plymouth Industrial REIT, Inc. has a 12 month low of $16.37 and a 12 month high of $24.71. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12.

Plymouth Industrial REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.24 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.80%. Plymouth Industrial REIT's payout ratio is presently 4,800.00%.

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.