Insider Buying: Plymouth Industrial REIT, Inc. (NYSE:PLYM) Director Acquires $91,950.00 in Stock

Plymouth Industrial REIT, Inc. (NYSE:PLYM) Director Pendleton P. Jr. White purchased 5,000 shares of Plymouth Industrial REIT stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $18.39 per share, with a total value 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 approximately $91,950. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Plymouth Industrial REIT Stock Up 0.9 %

Plymouth Industrial REIT stock opened at $18.73 on Thursday. The company has a market capitalization of $850.15 million, a P/E ratio of 936.50, a P/E/G ratio of 1.44 and a beta of 1.37. 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 firm has a 50 day moving average price of $21.28 and a 200-day moving average price of $21.93. Plymouth Industrial REIT, Inc. has a twelve month low of $18.08 and a twelve month high of $25.55.

Plymouth Industrial REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date was Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 4,800.00%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Meros Investment Management LP increased its stake in shares of Plymouth Industrial REIT by 38.2% in the second quarter. Meros Investment Management LP now owns 402,923 shares of the company’s stock worth $8,614,000 after purchasing an additional 111,339 shares in the last quarter. Vanguard Group Inc. lifted its stake in Plymouth Industrial REIT by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock valued at $95,943,000 after acquiring an additional 115,318 shares during the period. Westwood Holdings Group Inc. increased its holdings in shares of Plymouth Industrial REIT by 1.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock valued at $63,372,000 after purchasing an additional 28,272 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Plymouth Industrial REIT by 17.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,008 shares of the company’s stock worth $293,000 after purchasing an additional 1,892 shares during the last quarter. Finally, F M Investments LLC acquired a new position in shares of Plymouth Industrial REIT during the 2nd quarter valued at about $6,088,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PLYM. B. Riley raised their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a report on Monday, August 5th. 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 report on Friday, November 8th. Wedbush increased their price objective on Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, August 5th. JMP Securities restated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. Finally, Barclays reduced their price objective on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.89.

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.