LPL Financial LLC Reduces Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

LPL Financial LLC trimmed its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,879 shares of the company’s stock after selling 2,433 shares during the period. LPL Financial LLC’s holdings in Plymouth Industrial REIT were worth $1,862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake 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 worth $39,000 after acquiring an additional 989 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Plymouth Industrial REIT in the 2nd quarter worth about $60,000. Vident Investment Advisory LLC bought a new position in shares of Plymouth Industrial REIT in the 1st quarter worth about $204,000. Ensign Peak Advisors Inc bought a new position in shares of Plymouth Industrial REIT in the 3rd quarter worth about $137,000. Finally, Walleye Trading LLC bought a new stake in Plymouth Industrial REIT during the 1st quarter valued at about $256,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Plymouth Industrial REIT Stock Up 1.1 %

NYSE:PLYM opened at $21.01 on Monday. Plymouth Industrial REIT, Inc. has a 1-year low of $18.55 and a 1-year high of $23.79. The company has a 50-day moving average of $21.13 and a 200 day moving average of $21.86. The firm has a market cap of $950.70 million, a PE ratio of -175.08, a price-to-earnings-growth ratio of 1.63 and a beta of 1.35. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.22 and a quick ratio of 0.22.

Plymouth Industrial REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.90 annualized dividend and a dividend yield of 4.28%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently -750.00%.

Wall Street Analysts Forecast Growth

PLYM has been the subject of a number of analyst reports. B. Riley raised their price objective on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, August 14th. Truist Financial reduced their price objective on shares of Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, November 6th.

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.