Plymouth Industrial REIT (NYSE:PLYM) Reaches New 1-Year Low – What’s Next?

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $16.33 and last traded at $16.61, with a volume of 15252 shares traded. The stock had previously closed at $16.80.

Analysts Set New Price Targets

A number of analysts recently commented on PLYM shares. JPMorgan Chase & Co. decreased their target price on 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. Robert W. Baird lowered their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. JMP Securities reissued a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. BNP Paribas downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a report on Friday, November 8th. Finally, Truist Financial cut shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $23.89.

Plymouth Industrial REIT Stock Up 1.0 %

The company has a market capitalization of $768.63 million, a PE ratio of 846.70 and a beta of 1.33. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. The stock’s fifty day moving average is $17.69 and its two-hundred day moving average is $20.59.

Plymouth Industrial REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a $0.24 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.96 annualized dividend and a yield of 5.67%. Plymouth Industrial REIT’s payout ratio is 4,800.00%.

Insider Activity at Plymouth Industrial REIT

In related news, CEO Jeffrey E. Witherell bought 2,000 shares of Plymouth Industrial REIT stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $18.49 per share, with a total value of $36,980.00. Following the acquisition, the chief executive officer now directly owns 252,248 shares of the company’s stock, valued at $4,664,065.52. This represents a 0.80 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pendleton P. Jr. White purchased 5,000 shares of the stock in a transaction dated Friday, November 15th. The stock was purchased at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $91,950. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of institutional investors and hedge funds have recently bought and sold shares of PLYM. Quarry LP grew its holdings in Plymouth Industrial REIT by 88.4% in the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after acquiring an additional 860 shares during the last quarter. Copeland Capital Management LLC purchased a new position in Plymouth Industrial REIT during the 3rd quarter valued at about $43,000. Loomis Sayles & Co. L P lifted its holdings in Plymouth Industrial REIT by 3,130.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock worth $45,000 after buying an additional 1,941 shares during the period. Point72 DIFC Ltd bought a new stake in Plymouth Industrial REIT in the third quarter valued at $46,000. Finally, Point72 Hong Kong Ltd bought a new position in Plymouth Industrial REIT in the 3rd quarter worth $123,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

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.