Principal Financial Group Inc. Sells 47,218 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Principal Financial Group Inc. lessened its holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYMFree Report) by 33.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,655 shares of the company’s stock after selling 47,218 shares during the quarter. Principal Financial Group Inc. owned 0.20% of Plymouth Industrial REIT worth $2,230,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLYM. Jennison Associates LLC increased its holdings in Plymouth Industrial REIT by 25.8% in the 4th quarter. Jennison Associates LLC now owns 3,949,004 shares of the company’s stock valued at $95,053,000 after buying an additional 809,570 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Plymouth Industrial REIT by 53.3% in the 3rd 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 during the period. Knights of Columbus Asset Advisors LLC increased its holdings in Plymouth Industrial REIT by 94.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 192,243 shares of the company’s stock valued at $4,627,000 after buying an additional 93,434 shares during the period. Keeley Teton Advisors LLC increased its holdings 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 buying an additional 91,834 shares during the period. Finally, Cape Cod Five Cents Savings Bank increased its holdings in Plymouth Industrial REIT by 100.0% in the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 140,852 shares of the company’s stock valued at $2,951,000 after buying an additional 70,426 shares during the period. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Performance

Shares of NYSE:PLYM opened at $20.86 on Friday. The stock has a market capitalization of $946.63 million, a P/E ratio of 48.51, a P/E/G ratio of 1.57 and a beta of 1.35. Plymouth Industrial REIT, Inc. has a 1-year low of $19.21 and a 1-year high of $25.55. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.46. The business has a 50-day moving average price of $21.02 and a two-hundred day moving average price of $22.02.

Plymouth Industrial REIT (NYSE:PLYMGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.33). The firm had revenue of $50.23 million for the quarter, compared to the consensus estimate of $50.73 million. Plymouth Industrial REIT had a return on equity of 4.74% and a net margin of 11.42%. During the same period in the prior year, the firm posted $0.45 earnings per share. Equities analysts predict that Plymouth Industrial REIT, Inc. will post 1.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PLYM. Barclays began coverage on shares of Plymouth Industrial REIT in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $22.00 target price on the stock. Truist Financial reduced 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 report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $25.00.

Read Our Latest Report on Plymouth Industrial REIT

Insider Activity

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. 1.30% of the stock is currently owned by company insiders.

Plymouth Industrial REIT Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Plymouth Industrial REIT (NYSE:PLYM)

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