60,000 Shares in Plymouth Industrial REIT, Inc. (NYSE:PLYM) Purchased by Adams Asset Advisors LLC

Adams Asset Advisors LLC acquired a new position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) during the fourth quarter, Holdings Channel.com reports. The firm acquired 60,000 shares of the company’s stock, valued at approximately $1,068,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in Plymouth Industrial REIT by 8.1% during the third 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 in the last quarter. Tidal Investments LLC increased its holdings in Plymouth Industrial REIT by 7.4% in the third quarter. Tidal Investments LLC now owns 23,433 shares of the company’s stock valued at $530,000 after buying an additional 1,614 shares in the last quarter. Barclays PLC raised its position in shares of Plymouth Industrial REIT by 321.2% in the third quarter. Barclays PLC now owns 63,101 shares of the company’s stock worth $1,426,000 after acquiring an additional 48,119 shares during the period. Geode Capital Management LLC raised its position 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 acquiring an additional 29,924 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Plymouth Industrial REIT by 1.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock worth $1,064,000 after acquiring an additional 900 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Pendleton P. Jr. White bought 5,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were bought at an average price of $18.39 per share, with a total value of $91,950.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $91,950. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey E. Witherell purchased 2,000 shares of Plymouth Industrial REIT stock in a transaction dated Friday, November 15th. The stock was bought at an average cost 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 in the company, valued at approximately $4,664,065.52. This trade represents a 0.80 % increase in their position. 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 traded down $0.06 during mid-day trading on Monday, reaching $16.50. The company’s stock had a trading volume of 74,422 shares, compared to its average volume of 214,939. The stock has a market cap of $748.92 million, a PE ratio of 825.00, a P/E/G ratio of 1.47 and a beta of 1.34. The company’s 50 day moving average is $18.58 and its two-hundred day moving average is $21.23. Plymouth Industrial REIT, Inc. has a fifty-two week low of $16.37 and a fifty-two week high of $24.71. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.82%. Plymouth Industrial REIT’s payout ratio is 4,800.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PLYM shares. Truist Financial reduced their price target on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 29th. BNP Paribas lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price on the stock. in a research report on Friday, November 8th. Robert W. Baird reduced their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Finally, Barclays dropped their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.33.

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.