Hsbc Holdings PLC Trims Stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Hsbc Holdings PLC lowered its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM – Get Rating) by 53.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,679 shares of the company’s stock after selling 22,578 shares during the quarter. Hsbc Holdings PLC’s holdings in Plymouth Industrial REIT were worth $330,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Copeland Capital Management LLC purchased a new stake in Plymouth Industrial REIT in the third quarter valued at $29,000. Tower Research Capital LLC TRC raised its holdings in shares of 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 buying an additional 989 shares during the period. US Bancorp DE raised its holdings in shares of Plymouth Industrial REIT by 2,337.4% in the 3rd quarter. US Bancorp DE now owns 2,608 shares of the company’s stock valued at $44,000 after buying an additional 2,501 shares during the period. Captrust Financial Advisors purchased a new stake in shares of Plymouth Industrial REIT in the 2nd quarter valued at $60,000. Finally, Vident Investment Advisory LLC purchased a new stake in shares of Plymouth Industrial REIT in the 1st quarter valued at $204,000. Hedge funds and other institutional investors own 94.67% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PLYM shares. Truist Financial boosted their price objective on Plymouth Industrial REIT from $23.00 to $25.00 in a report on Monday, February 27th. B. Riley boosted their price objective on Plymouth Industrial REIT from $25.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, February 28th.

Plymouth Industrial REIT Price Performance

Shares of NYSE PLYM opened at $21.70 on Thursday. The stock’s 50-day moving average is $21.19 and its two-hundred day moving average is $19.89. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.21 and a quick ratio of 0.21. Plymouth Industrial REIT, Inc. has a 1-year low of $15.59 and a 1-year high of $27.64. The company has a market cap of $933.75 million, a price-to-earnings ratio of -31.91, a price-to-earnings-growth ratio of 1.72 and a beta of 1.35.

Plymouth Industrial REIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, March 31st will be issued a dividend of $0.225 per share. This is an increase from Plymouth Industrial REIT’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, March 30th. This represents a $0.90 annualized dividend and a yield of 4.15%. Plymouth Industrial REIT’s dividend payout ratio is -129.41%.

About Plymouth Industrial REIT

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Plymouth Industrial REIT, Inc engages in the acquisition, ownership, and management of single and multi-tenant distribution centers, warehouses, and light industrial properties. It seeks to acquire properties that provide income and growth, and enhance shareholder value through active asset management, prudent property re-positioning, and disciplined capital deployment.