Jennison Associates LLC Has $95.05 Million Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Jennison Associates LLC grew its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 25.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,949,004 shares of the company’s stock after purchasing an additional 809,570 shares during the period. Jennison Associates LLC owned about 0.09% of Plymouth Industrial REIT worth $95,053,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in Plymouth Industrial REIT by 53.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 471,532 shares of the company’s stock valued at $9,879,000 after buying an additional 164,031 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its holdings in Plymouth Industrial REIT by 94.6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 192,243 shares of the company’s stock worth $4,627,000 after acquiring an additional 93,434 shares during the last quarter. Keeley Teton Advisors LLC increased its position in Plymouth Industrial REIT by 124.8% in the 3rd quarter. Keeley Teton Advisors LLC now owns 165,436 shares of the company’s stock valued at $3,466,000 after acquiring an additional 91,834 shares in the last quarter. Cape Cod Five Cents Savings Bank raised its stake in shares of Plymouth Industrial REIT by 100.0% in the third quarter. Cape Cod Five Cents Savings Bank now owns 140,852 shares of the company’s stock worth $2,951,000 after acquiring an additional 70,426 shares during the last quarter. Finally, Callodine Capital Management LP raised its stake in shares of Plymouth Industrial REIT by 28.6% in the third quarter. Callodine Capital Management LP now owns 270,000 shares of the company’s stock worth $5,656,000 after acquiring an additional 60,006 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insiders Place Their Bets

In related news, Director Pendleton P. White purchased 4,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $21.58 per share, with a total value of $86,320.00. Following the purchase, the director now directly owns 4,000 shares in the company, valued at approximately $86,320. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PLYM shares. Truist Financial decreased their price target on shares of Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. JMP Securities upgraded Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research report on Monday, January 22nd. Finally, Barclays initiated coverage on Plymouth Industrial REIT in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 target price for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.00.

Plymouth Industrial REIT Stock Performance

PLYM stock opened at $20.76 on Tuesday. Plymouth Industrial REIT, Inc. has a twelve month low of $19.21 and a twelve month high of $25.55. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.47. The company has a market cap of $942.09 million, a P/E ratio of 109.26, a price-to-earnings-growth ratio of 1.52 and a beta of 1.36. The business’s fifty day moving average is $21.64 and its 200-day moving average is $21.99.

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 paid a $0.24 dividend. This is a positive change from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 annualized dividend and a yield of 4.62%. Plymouth Industrial REIT’s dividend payout ratio is presently 505.26%.

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.