Allspring Global Investments Holdings LLC Sells 62,003 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Allspring Global Investments Holdings LLC lowered its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 21.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 230,971 shares of the company’s stock after selling 62,003 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Plymouth Industrial REIT were worth $5,559,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PLYM. International Assets Investment Management LLC grew its position in shares of Plymouth Industrial REIT by 2,306.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,155 shares of the company’s stock valued at $28,000 after acquiring an additional 1,107 shares during the period. State of Wyoming purchased a new position in Plymouth Industrial REIT in the second quarter valued at approximately $29,000. Spirit of America Management Corp NY bought a new position in Plymouth Industrial REIT during the third quarter valued at $31,000. Tower Research Capital LLC TRC increased its position in Plymouth Industrial REIT by 73.4% in the third quarter. Tower Research Capital LLC TRC now owns 2,337 shares of the company’s stock worth $39,000 after buying an additional 989 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in Plymouth Industrial REIT in the third quarter worth $53,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

PLYM has been the topic of a number of recent research reports. Truist Financial dropped their price target on Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. JMP Securities raised shares of Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a report on Monday, January 22nd. Finally, Barclays initiated coverage on shares of 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 analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Plymouth Industrial REIT Price Performance

Shares of NYSE PLYM opened at $20.06 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.11 and a current ratio of 0.11. Plymouth Industrial REIT, Inc. has a fifty-two week low of $19.21 and a fifty-two week high of $25.55. The stock has a market cap of $910.32 million, a PE ratio of 105.58, a price-to-earnings-growth ratio of 1.53 and a beta of 1.36. The stock has a fifty day moving average of $21.71 and a 200-day moving average of $21.97.

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. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 annualized dividend and a yield of 4.79%. This is an increase from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 505.26%.

Insider Buying and Selling at Plymouth Industrial REIT

In other news, Director Pendleton P. White purchased 4,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $21.58 per share, with a total value of $86,320.00. Following the completion of the acquisition, 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 is available at this link. Insiders own 1.30% of the company’s stock.

Plymouth Industrial REIT 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.