Thrivent Financial for Lutherans lessened its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 23.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 347,634 shares of the company's stock after selling 107,458 shares during the period. Thrivent Financial for Lutherans owned approximately 0.77% of Plymouth Industrial REIT worth $6,188,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in PLYM. State Street Corp grew its holdings in Plymouth Industrial REIT by 1.4% during the third 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 during the period. Geode Capital Management LLC grew its stake 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 acquiring an additional 29,924 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Plymouth Industrial REIT by 24.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company's stock valued at $20,583,000 after acquiring an additional 180,003 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Plymouth Industrial REIT by 8.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 890,653 shares of the company's stock valued at $20,129,000 after purchasing an additional 66,886 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC purchased a new position in shares of Plymouth Industrial REIT during the fourth quarter valued at about $7,443,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.
Plymouth Industrial REIT Trading Down 1.0 %
Plymouth Industrial REIT stock traded down $0.17 during midday trading on Thursday, reaching $16.80. The stock had a trading volume of 228,339 shares, compared to its average volume of 286,170. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The firm has a market cap of $765.03 million, a price-to-earnings ratio of 839.75 and a beta of 1.45. Plymouth Industrial REIT, Inc. has a 52-week low of $16.06 and a 52-week high of $24.71. The company has a fifty day moving average of $16.83 and a 200 day moving average of $18.87.
Plymouth Industrial REIT Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.72%. Plymouth Industrial REIT's payout ratio is 31.37%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on PLYM shares. Truist Financial dropped their price target on Plymouth Industrial REIT from $20.00 to $18.00 and set a "hold" rating for the company in a research note on Monday. Robert W. Baird cut their target price on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. JMP Securities reaffirmed a "market outperform" rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. 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 research note on Tuesday, January 14th. Finally, Wedbush set a $17.00 price target on shares of Plymouth Industrial REIT in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $22.00.
Read Our Latest Research Report on Plymouth Industrial REIT
Plymouth Industrial REIT Profile
(
Free Report)
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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