Jennison Associates LLC Sells 93,128 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Jennison Associates LLC reduced its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 2.1% in the fourth quarter, HoldingsChannel reports. The firm owned 4,308,256 shares of the company’s stock after selling 93,128 shares during the period. Jennison Associates LLC owned approximately 0.09% of Plymouth Industrial REIT worth $76,687,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. 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 worth $27,949,000 after buying an additional 16,398 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Plymouth Industrial REIT by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock worth $23,685,000 after acquiring an additional 29,924 shares during the period. Charles Schwab Investment Management Inc. increased its stake 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 worth $20,583,000 after purchasing an additional 180,003 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 66,886 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Plymouth Industrial REIT by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company’s stock valued at $11,480,000 after purchasing an additional 4,265 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PLYM shares. Robert W. Baird dropped their price objective on 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. Truist Financial cut shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research report on Friday, November 8th. JMP Securities restated a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Finally, Barclays decreased their price objective on shares of 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.89.

Plymouth Industrial REIT Trading Up 0.0 %

Shares of Plymouth Industrial REIT stock opened at $16.80 on Tuesday. Plymouth Industrial REIT, Inc. has a twelve month low of $16.33 and a twelve month high of $24.71. 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 business has a 50-day moving average price of $17.73 and a 200-day moving average price of $20.64. The firm has a market cap of $762.72 million, a price-to-earnings ratio of 840.20 and a beta of 1.34.

Plymouth Industrial REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend was Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio is presently 4,800.00%.

Insiders Place Their Bets

In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White bought 5,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $91,950. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey E. Witherell purchased 2,000 shares of the stock in a transaction that occurred 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 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 position. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

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.