Plymouth Industrial REIT, Inc. (NYSE:PLYM) Stake Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 13.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,999 shares of the company's stock after selling 26,374 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.37% of Plymouth Industrial REIT worth $3,752,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Plymouth Industrial REIT by 2.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 22,192 shares of the company's stock valued at $470,000 after acquiring an additional 490 shares during the period. American International Group Inc. boosted its holdings in shares of Plymouth Industrial REIT by 2.5% during the first quarter. American International Group Inc. now owns 22,508 shares of the company's stock valued at $506,000 after acquiring an additional 544 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Plymouth Industrial REIT by 1.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 42,914 shares of the company's stock valued at $966,000 after acquiring an additional 578 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Plymouth Industrial REIT by 4.0% during the first quarter. State of Alaska Department of Revenue now owns 21,590 shares of the company's stock valued at $484,000 after acquiring an additional 832 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Plymouth Industrial REIT by 8.6% during the first quarter. Daiwa Securities Group Inc. now owns 11,838 shares of the company's stock valued at $266,000 after acquiring an additional 939 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PLYM shares. Barclays boosted their price target on shares of Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an "equal weight" rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. cut their price objective on shares of Plymouth Industrial REIT from $24.00 to $23.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 10th. Wedbush lifted their price objective on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Monday, August 5th. B. Riley lifted their price objective on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Finally, Truist Financial lifted their price objective on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a "buy" rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $25.57.

Insiders Place Their Bets

In other Plymouth Industrial REIT news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the business's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $23.58, for a total value of $13,285,868.04. Following the sale, the insider now directly owns 4,474,292 shares in the company, valued at approximately $105,503,805.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by company insiders.

Plymouth Industrial REIT Price Performance

Plymouth Industrial REIT stock traded down $0.16 during midday trading on Tuesday, hitting $20.36. The company's stock had a trading volume of 445,213 shares, compared to its average volume of 244,579. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.49. The stock's 50-day moving average price is $22.51 and its 200-day moving average price is $22.03. Plymouth Industrial REIT, Inc. has a 12 month low of $19.21 and a 12 month high of $25.55. The company has a market capitalization of $924.26 million, a PE ratio of 37.70, a price-to-earnings-growth ratio of 1.57 and a beta of 1.36.

Plymouth Industrial REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Monday, September 30th. Plymouth Industrial REIT's dividend payout ratio (DPR) is presently 177.78%.

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.