Foundry Partners LLC Purchases New Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Foundry Partners LLC purchased a new stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 164,825 shares of the company’s stock, valued at approximately $3,725,000.

Other institutional investors also recently modified their holdings of the company. Copeland Capital Management LLC purchased a new stake in shares of Plymouth Industrial REIT during the 3rd quarter valued at approximately $43,000. EntryPoint Capital LLC lifted its stake in shares of Plymouth Industrial REIT by 33.9% during the 1st quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock valued at $112,000 after buying an additional 1,266 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Plymouth Industrial REIT by 431.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock valued at $202,000 after buying an additional 7,668 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Plymouth Industrial REIT during the 3rd quarter valued at approximately $202,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Plymouth Industrial REIT during the 3rd quarter valued at approximately $204,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. JMP Securities restated a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. Wedbush increased their target price on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. B. Riley increased their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, August 5th. BMO Capital Markets decreased their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Wednesday, August 28th. Finally, BNP Paribas lowered shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target on the stock. in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.89.

Insider Activity at Plymouth Industrial REIT

In other news, Director Pendleton P. Jr. White purchased 5,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $18.39 per share, with a total value of $91,950.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $91,950. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey E. Witherell purchased 2,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the acquisition, the chief executive officer now owns 252,248 shares in the company, valued at approximately $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 owned by insiders.

Plymouth Industrial REIT Price Performance

PLYM stock opened at $18.86 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. Plymouth Industrial REIT, Inc. has a 52 week low of $18.08 and a 52 week high of $25.55. The firm’s fifty day moving average is $21.20 and its 200 day moving average is $21.91. The firm has a market cap of $856.08 million, a P/E ratio of 943.03, a P/E/G ratio of 1.44 and a beta of 1.37.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend was Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is currently 4,800.00%.

About Plymouth Industrial REIT

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.