Russell Investments Group Ltd. Sells 14,781 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Russell Investments Group Ltd. decreased its holdings in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 11.0% in the fourth quarter, HoldingsChannel reports. The fund owned 119,253 shares of the company’s stock after selling 14,781 shares during the quarter. Russell Investments Group Ltd.’s holdings in Plymouth Industrial REIT were worth $2,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Barclays PLC lifted its position in Plymouth Industrial REIT by 321.2% during the third quarter. Barclays PLC now owns 63,101 shares of the company’s stock valued at $1,426,000 after purchasing an additional 48,119 shares in the last quarter. Geode Capital Management LLC raised its stake 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. Hennion & Walsh Asset Management Inc. raised its stake in shares of Plymouth Industrial REIT by 30.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 11,628 shares of the company’s stock worth $207,000 after buying an additional 2,697 shares during the period. JPMorgan Chase & Co. lifted its position in shares of 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 buying an additional 66,886 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Plymouth Industrial REIT by 1.4% during the 4th quarter. Rhumbline Advisers now owns 73,529 shares of the company’s stock valued at $1,309,000 after acquiring an additional 1,010 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLYM has been the topic of a number of recent analyst reports. Truist Financial decreased their target price on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Monday, March 24th. Robert W. Baird lowered their target price on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. KeyCorp lowered their price objective on Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays cut their target price on Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating for the company in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.20.

Plymouth Industrial REIT Price Performance

Shares of Plymouth Industrial REIT stock opened at $14.54 on Friday. 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 12 month low of $12.70 and a 12 month high of $24.71. The stock has a 50 day moving average of $16.10 and a 200 day moving average of $17.87. The firm has a market cap of $662.31 million, a PE ratio of 727.00 and a beta of 1.19.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.60%. The ex-dividend date of this dividend is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 31.37%.

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.