Thrivent Financial for Lutherans Sells 107,458 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Thrivent Financial for Lutherans cut its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 23.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 347,634 shares of the company’s stock after selling 107,458 shares during the period. Thrivent Financial for Lutherans’ holdings in Plymouth Industrial REIT were worth $6,188,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Globeflex Capital L P increased its holdings in shares of Plymouth Industrial REIT by 33.9% in the fourth quarter. Globeflex Capital L P now owns 176,482 shares of the company’s stock valued at $3,141,000 after purchasing an additional 44,680 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in Plymouth Industrial REIT in the 4th quarter valued at $7,443,000. Vestcor Inc increased its stake in shares of Plymouth Industrial REIT by 6.2% in the 4th quarter. Vestcor Inc now owns 39,232 shares of the company’s stock valued at $698,000 after buying an additional 2,306 shares during the period. Victory Capital Management Inc. raised its position in shares of Plymouth Industrial REIT by 14.4% during the fourth quarter. Victory Capital Management Inc. now owns 66,000 shares of the company’s stock worth $1,175,000 after acquiring an additional 8,300 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Plymouth Industrial REIT during the fourth quarter valued at $194,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Plymouth Industrial REIT Price Performance

Shares of PLYM stock opened at $17.05 on Monday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. Plymouth Industrial REIT, Inc. has a 12-month low of $16.06 and a 12-month high of $24.71. The firm has a fifty day moving average of $16.84 and a 200-day moving average of $18.97. The firm has a market capitalization of $776.42 million, a price-to-earnings ratio of 852.25 and a beta of 1.45.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 5.63%. Plymouth Industrial REIT’s payout ratio is 31.37%.

Analyst Ratings Changes

PLYM has been the subject of a number of research reports. Wedbush set a $17.00 price objective on Plymouth Industrial REIT in a research report on Friday, February 28th. Robert W. Baird dropped their price target on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. JPMorgan Chase & Co. dropped their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Finally, Truist Financial lowered Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Plymouth Industrial REIT currently has an average rating of “Hold” and a consensus target price of $22.44.

Plymouth Industrial REIT Company 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.