Adams Asset Advisors LLC Takes Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Adams Asset Advisors LLC bought a new stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 60,000 shares of the company’s stock, valued at approximately $1,068,000. Adams Asset Advisors LLC owned about 0.13% of Plymouth Industrial REIT as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Jennison Associates LLC grew its holdings in 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 purchasing an additional 174,836 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Plymouth Industrial REIT by 1.0% during the second quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock valued at $63,372,000 after buying an additional 28,272 shares during the period. State Street Corp grew its stake in shares of 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 buying an additional 16,398 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Plymouth Industrial REIT by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock worth $23,685,000 after buying an additional 29,924 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Plymouth Industrial REIT by 24.6% during 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 period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

PLYM has been the subject of several research analyst reports. Barclays decreased their target price on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. BNP Paribas downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price on the stock. in a research note on Friday, November 8th. Robert W. Baird decreased their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Truist Financial dropped their price objective on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Plymouth Industrial REIT presently has a consensus rating of “Hold” and a consensus price target of $24.33.

Insider Buying and Selling at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, CEO Jeffrey E. Witherell purchased 2,000 shares of the stock in a transaction on Friday, November 15th. The stock was acquired at an average price 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 in the company, valued at $4,664,065.52. The trade was a 0.80 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Pendleton P. Jr. White purchased 5,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $91,950. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Plymouth Industrial REIT Stock Down 0.4 %

Shares of NYSE:PLYM traded down $0.06 on Monday, reaching $16.50. The company had a trading volume of 74,422 shares, compared to its average volume of 214,939. The firm has a market capitalization of $748.92 million, a PE ratio of 825.00, a PEG ratio of 1.47 and a beta of 1.34. 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, Inc. has a 52-week low of $16.37 and a 52-week high of $24.71. The firm’s 50 day simple moving average is $18.58 and its 200-day simple moving average is $21.23.

Plymouth Industrial REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.24 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 dividend on an annualized basis and a yield of 5.82%. Plymouth Industrial REIT’s dividend payout ratio is presently 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.