The Manufacturers Life Insurance Company Decreases Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

The Manufacturers Life Insurance Company trimmed its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 90.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,939 shares of the company's stock after selling 146,933 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Plymouth Industrial REIT were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. F M Investments LLC bought a new stake in Plymouth Industrial REIT during the second quarter worth $6,088,000. Millennium Management LLC increased its stake in shares of Plymouth Industrial REIT by 115.6% in the second quarter. Millennium Management LLC now owns 338,894 shares of the company's stock worth $7,246,000 after purchasing an additional 181,725 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Plymouth Industrial REIT by 24.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company's stock valued at $20,583,000 after purchasing an additional 180,003 shares during the period. Jennison Associates LLC lifted its stake in shares of Plymouth Industrial REIT by 4.1% during the 3rd quarter. Jennison Associates LLC now owns 4,401,384 shares of the company's stock valued at $99,471,000 after buying an additional 174,836 shares in the last quarter. Finally, Foundry Partners LLC bought a new position in Plymouth Industrial REIT in the 3rd quarter worth approximately $3,725,000. Institutional investors own 92.67% of the company's stock.

Insider Activity at Plymouth Industrial REIT

In other news, CEO Jeffrey E. Witherell bought 2,000 shares of the firm's stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $18.49 per share, with a total value of $36,980.00. Following the completion of the acquisition, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pendleton P. Jr. White acquired 5,000 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $18.39 per share, with a total value of $91,950.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at $91,950. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on PLYM. Robert W. Baird dropped their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 12th. BMO Capital Markets lowered 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 report on Wednesday, August 28th. Barclays cut their price objective on Plymouth Industrial REIT from $25.00 to $22.00 and set an "equal weight" rating for the company in a report on Monday, November 18th. JMP Securities restated a "market outperform" rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. Finally, Truist Financial reduced their price target on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a "buy" rating on the stock in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $24.33.

Plymouth Industrial REIT Stock Up 0.1 %

Shares of NYSE PLYM traded up $0.02 during mid-day trading on Monday, hitting $18.95. 566,818 shares of the stock traded hands, compared to its average volume of 263,267. The company has a market cap of $860.14 million, a price-to-earnings ratio of 946.50, a PEG ratio of 1.47 and a beta of 1.34. The stock has a fifty day moving average price of $19.95 and a 200-day moving average price of $21.70. Plymouth Industrial REIT, Inc. has a 52 week low of $18.08 and a 52 week high of $25.18. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.24 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.07%. Plymouth Industrial REIT's payout ratio is 4,800.00%.

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.