Meros Investment Management LP Reduces Stock Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Meros Investment Management LP lessened its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 8.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 367,134 shares of the company’s stock after selling 35,789 shares during the quarter. Plymouth Industrial REIT accounts for approximately 3.8% of Meros Investment Management LP’s investment portfolio, making the stock its 8th largest holding. Meros Investment Management LP’s holdings in Plymouth Industrial REIT were worth $8,297,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PLYM. Quarry LP grew its position in Plymouth Industrial REIT by 88.4% during the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after acquiring an additional 860 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in shares of Plymouth Industrial REIT in the 3rd quarter valued at about $43,000. Loomis Sayles & Co. L P raised its holdings in shares of Plymouth Industrial REIT by 3,130.6% in the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after purchasing an additional 1,941 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Plymouth Industrial REIT during the 3rd quarter worth about $46,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Plymouth Industrial REIT during the 3rd quarter worth approximately $123,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PLYM. BNP Paribas lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research note on Friday, November 8th. BMO Capital Markets cut their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a research note 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. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. Finally, Truist Financial cut their price objective on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, November 29th. One 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.com, the stock currently has an average rating of “Hold” and an average price target of $24.33.

Insider Buying and Selling at Plymouth Industrial REIT

In other news, Director Pendleton P. Jr. White purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $91,950. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey E. Witherell purchased 2,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was bought 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 $4,664,065.52. The trade was a 0.80 % 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.

Plymouth Industrial REIT Trading Down 1.9 %

Shares of NYSE:PLYM opened at $18.83 on Wednesday. The company has a market capitalization of $854.67 million, a PE ratio of 941.50, a P/E/G ratio of 1.44 and a beta of 1.34. The business’s fifty day simple moving average is $20.14 and its 200-day simple 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 current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42.

Plymouth Industrial REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.10%. Plymouth Industrial REIT’s payout ratio is currently 4,800.00%.

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.