Plymouth Industrial REIT, Inc. (NYSE:PLYM) Shares Sold by Citigroup Inc.

Citigroup Inc. lessened its stake in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 46.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,748 shares of the company’s stock after selling 10,237 shares during the quarter. Citigroup Inc.’s holdings in Plymouth Industrial REIT were worth $246,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PLYM. State of Wyoming acquired a new position in shares of Plymouth Industrial REIT in the second quarter valued at approximately $29,000. Spirit of America Management Corp NY acquired a new position in Plymouth Industrial REIT in the 3rd quarter valued at $31,000. Tower Research Capital LLC TRC raised its holdings in Plymouth Industrial REIT by 73.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,337 shares of the company’s stock valued at $39,000 after acquiring an additional 989 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Plymouth Industrial REIT during the 3rd quarter worth $53,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Plymouth Industrial REIT during the second quarter worth $60,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Price Performance

Shares of NYSE PLYM opened at $22.11 on Thursday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.47. Plymouth Industrial REIT, Inc. has a twelve month low of $19.21 and a twelve month high of $25.55. The business has a 50 day simple moving average of $22.03 and a 200-day simple moving average of $22.01. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 116.37, a price-to-earnings-growth ratio of 1.65 and a beta of 1.36.

Plymouth Industrial REIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.24 dividend. The ex-dividend date is Wednesday, March 27th. This is a positive change from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 4.34%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 505.26%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PLYM. JMP Securities upgraded Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 price target for the company in a report on Monday, January 22nd. Truist Financial lowered their target price on shares of Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Barclays initiated coverage on shares of Plymouth Industrial REIT in a report on Wednesday. They issued an “equal weight” rating and a $22.00 price target on the stock. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $25.00 price objective (up from $23.00) on shares of Plymouth Industrial REIT in a report on Monday, December 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $25.00.

Insider Buying and Selling

In other Plymouth Industrial REIT news, Director Pendleton P. White purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $21.58 per share, with a total value of $86,320.00. Following the completion of the purchase, the director now owns 4,000 shares in the company, valued at approximately $86,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Plymouth Industrial REIT Company 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.