Plymouth Industrial REIT, Inc. (NYSE:PLYM) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its holdings in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,938 shares of the company’s stock after selling 1,506 shares during the quarter. Corebridge Financial Inc.’s holdings in Plymouth Industrial REIT were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Quarry LP lifted its stake in shares of Plymouth Industrial REIT by 88.4% during the third quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after purchasing an additional 860 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Plymouth Industrial REIT in the 4th quarter valued at approximately $148,000. SG Americas Securities LLC increased its position in shares of Plymouth Industrial REIT by 15.0% in the 4th quarter. SG Americas Securities LLC now owns 10,390 shares of the company’s stock worth $185,000 after purchasing an additional 1,358 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Plymouth Industrial REIT in the fourth quarter valued at about $194,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Plymouth Industrial REIT during the 3rd quarter valued at approximately $248,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Plymouth Industrial REIT Stock Performance

Shares of PLYM opened at $14.32 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market capitalization of $652.29 million, a P/E ratio of 716.00 and a beta of 1.19. Plymouth Industrial REIT, Inc. has a 12-month low of $12.70 and a 12-month high of $24.71. The firm’s 50 day moving average is $16.44 and its 200-day moving average is $18.25.

Plymouth Industrial REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 31.37%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Truist Financial dropped their target price on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Monday, March 24th. JMP Securities reiterated a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. Wedbush set a $17.00 price target on Plymouth Industrial REIT in a report on Friday, February 28th. Barclays cut their price objective on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, March 31st. Finally, KeyCorp decreased their target price on shares of Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Plymouth Industrial REIT presently has an average rating of “Hold” and a consensus target price of $21.20.

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.