Plymouth Industrial REIT, Inc. (NYSE:PLYM) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,356 shares of the company’s stock after selling 514 shares during the quarter. Cornercap Investment Counsel Inc. owned approximately 0.07% of Plymouth Industrial REIT worth $692,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PLYM. Vanguard Group Inc. increased its position in Plymouth Industrial REIT by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock worth $95,943,000 after purchasing an additional 115,318 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Plymouth Industrial REIT by 5.9% during the 1st quarter. Jennison Associates LLC now owns 4,183,540 shares of the company’s stock worth $94,130,000 after purchasing an additional 234,536 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of Plymouth Industrial REIT by 10.8% during the first quarter. Westwood Holdings Group Inc. now owns 2,935,803 shares of the company’s stock worth $66,056,000 after buying an additional 286,434 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Plymouth Industrial REIT by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 1,669,720 shares of the company’s stock worth $40,190,000 after buying an additional 29,479 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Plymouth Industrial REIT by 19.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 562,177 shares of the company’s stock valued at $13,532,000 after buying an additional 90,645 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Plymouth Industrial REIT Price Performance

PLYM stock opened at $23.08 on Friday. The company has a market cap of $1.05 billion, a PE ratio of 53.67, a price-to-earnings-growth ratio of 1.73 and a beta of 1.36. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49. The stock has a 50-day moving average price of $23.49 and a two-hundred day moving average price of $21.99. Plymouth Industrial REIT, Inc. has a 12-month low of $19.21 and a 12-month high of $25.55.

Plymouth Industrial REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend is Monday, September 30th. Plymouth Industrial REIT’s payout ratio is currently 223.26%.

Insider Buying and Selling

In other Plymouth Industrial REIT news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of Plymouth Industrial REIT stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the transaction, the insider now directly owns 4,474,292 shares of the company’s stock, valued at $105,503,805.36. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PLYM. JMP Securities restated a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. Wedbush lifted their price objective on Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. B. Riley increased their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. BMO Capital Markets decreased 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, Barclays upped their price objective on shares of Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Plymouth Industrial REIT has a consensus rating of “Hold” and an average target price of $25.57.

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.