Renaissance Technologies LLC Cuts Stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Renaissance Technologies LLC decreased its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 205,911 shares of the company's stock after selling 30,101 shares during the period. Renaissance Technologies LLC owned 0.45% of Plymouth Industrial REIT worth $3,665,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its holdings in shares of Plymouth Industrial REIT by 17.3% in the fourth quarter. Legal & General Group Plc now owns 41,472 shares of the company's stock worth $738,000 after acquiring an additional 6,119 shares during the period. Invesco Ltd. lifted its holdings in Plymouth Industrial REIT by 120.6% during the 4th quarter. Invesco Ltd. now owns 151,769 shares of the company's stock worth $2,701,000 after purchasing an additional 82,965 shares in the last quarter. Polymer Capital Management US LLC bought a new position in Plymouth Industrial REIT in the 4th quarter worth about $236,000. Cerity Partners LLC grew its holdings in Plymouth Industrial REIT by 8.1% during the 4th quarter. Cerity Partners LLC now owns 37,088 shares of the company's stock valued at $660,000 after buying an additional 2,772 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of Plymouth Industrial REIT by 38.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company's stock valued at $54,000 after buying an additional 844 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Plymouth Industrial REIT Trading Up 1.3 %

Shares of PLYM opened at $14.58 on Wednesday. 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, Inc. has a fifty-two week low of $12.70 and a fifty-two week high of $24.71. The firm has a 50 day moving average price of $16.02 and a 200-day moving average price of $17.74. The firm has a market cap of $664.04 million, a price-to-earnings ratio of 728.90 and a beta of 1.19.

Plymouth Industrial REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.24 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 6.59%. Plymouth Industrial REIT's payout ratio is 31.37%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PLYM shares. Barclays reduced their price objective on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating for the company in a research note on Monday, March 31st. Truist Financial decreased their price target on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Monday, March 24th. JMP Securities reissued a "market outperform" rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Robert W. Baird decreased their target price on Plymouth Industrial REIT from $21.00 to $20.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. dropped their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an "underweight" rating for the company in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $21.20.

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.

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