Meros Investment Management LP Lowers Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Meros Investment Management LP cut its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 8.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 367,134 shares of the company's stock after selling 35,789 shares during the period. Plymouth Industrial REIT makes up approximately 3.8% of Meros Investment Management LP's investment portfolio, making the stock its 8th largest holding. Meros Investment Management LP owned about 0.81% of Plymouth Industrial REIT worth $8,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Plymouth Industrial REIT by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company's stock valued at $23,685,000 after purchasing an additional 29,924 shares during the period. Barclays PLC boosted its position in shares of Plymouth Industrial REIT by 321.2% during the third quarter. Barclays PLC now owns 63,101 shares of the company's stock worth $1,426,000 after purchasing an additional 48,119 shares in the last quarter. Nomura Asset Management Co. Ltd. grew 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 period. Y Intercept Hong Kong Ltd increased its position in shares of Plymouth Industrial REIT by 7.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 32,352 shares of the company's stock valued at $731,000 after buying an additional 2,110 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in Plymouth Industrial REIT by 122.0% during the 3rd quarter. Jane Street Group LLC now owns 94,991 shares of the company's stock worth $2,147,000 after buying an additional 52,197 shares during the period. Institutional investors own 92.67% of the company's stock.

Plymouth Industrial REIT Stock Down 0.4 %

PLYM traded down $0.08 on Wednesday, hitting $18.75. 335,704 shares of the company were exchanged, compared to its average volume of 262,034. The stock's fifty day moving average is $20.14 and its 200-day moving average is $21.73. Plymouth Industrial REIT, Inc. has a 12 month low of $18.08 and a 12 month high of $25.55. 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 $851.04 million, a PE ratio of 941.50, a PEG ratio of 1.44 and a beta of 1.34.

Plymouth Industrial REIT Announces Dividend

The business 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 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend was Monday, September 30th. Plymouth Industrial REIT's payout ratio is presently 4,800.00%.

Insider Activity

In other Plymouth Industrial REIT news, CEO Jeffrey E. Witherell acquired 2,000 shares of the company's stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $18.49 per share, for a total transaction of $36,980.00. Following the completion of the purchase, the chief executive officer now directly owns 252,248 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pendleton P. Jr. White bought 5,000 shares of Plymouth Industrial REIT stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $18.39 per share, with a total value of $91,950.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at $91,950. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

PLYM has been the subject of a number of research reports. Robert W. Baird lowered 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. JMP Securities reaffirmed a "market outperform" rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. Barclays reduced their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an "equal weight" rating for the company in a research note on Monday, November 18th. BMO Capital Markets dropped their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 28th. 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 assigned a buy rating to the company's stock. According to MarketBeat, Plymouth Industrial REIT currently has an average rating of "Hold" and an average price target of $24.33.

Plymouth Industrial REIT Company 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.