Jennison Associates LLC Sells 93,128 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Jennison Associates LLC trimmed its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,308,256 shares of the company's stock after selling 93,128 shares during the quarter. Jennison Associates LLC owned 9.49% of Plymouth Industrial REIT worth $76,687,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PLYM. State Street Corp boosted its stake in shares of Plymouth Industrial REIT by 1.4% in the 3rd quarter. State Street Corp now owns 1,223,747 shares of the company's stock valued at $27,949,000 after purchasing an additional 16,398 shares in the last quarter. Geode Capital Management LLC boosted its position in Plymouth Industrial REIT by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company's stock valued at $23,685,000 after buying an additional 29,924 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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. JPMorgan Chase & Co. increased its holdings in shares of Plymouth Industrial REIT by 8.1% during the third quarter. JPMorgan Chase & Co. now owns 890,653 shares of the company's stock worth $20,129,000 after buying an additional 66,886 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Plymouth Industrial REIT by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company's stock valued at $11,480,000 after acquiring an additional 4,265 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLYM has been the topic of a number of research reports. Truist Financial lowered Plymouth Industrial REIT from a "buy" rating to a "hold" rating in a research report on Friday, January 17th. Robert W. Baird lowered their price objective 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. JPMorgan Chase & Co. dropped their price objective on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an "underweight" rating for the company in a report on Tuesday, January 14th. JMP Securities reissued a "market outperform" rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Finally, BNP Paribas downgraded shares of Plymouth Industrial REIT from an "outperform" rating to a "neutral" rating and set a $23.00 price target for the company. in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $23.89.

Plymouth Industrial REIT Trading Down 2.2 %

Shares of NYSE PLYM traded down $0.37 during midday trading on Friday, reaching $16.36. The stock had a trading volume of 215,991 shares, compared to its average volume of 317,004. Plymouth Industrial REIT, Inc. has a twelve month low of $16.26 and a twelve 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. The company's 50 day moving average price is $17.56 and its 200 day moving average price is $20.48. The firm has a market cap of $742.47 million, a price-to-earnings ratio of 817.90 and a beta of 1.33.

Plymouth Industrial REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.96 dividend on an annualized basis and a yield of 5.87%. Plymouth Industrial REIT's dividend payout ratio (DPR) is currently 4,800.00%.

Insiders Place Their Bets

In related news, CEO Jeffrey E. Witherell acquired 2,000 shares of Plymouth Industrial REIT stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $18.49 per share, with a total value of $36,980.00. Following the transaction, 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 position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Pendleton P. Jr. White acquired 5,000 shares of the stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $18.39 per share, with a total value of $91,950.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $91,950. This represents 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.

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.