Plymouth Industrial REIT (NYSE:PLYM) Sets New 12-Month Low – Here’s What Happened

Plymouth Industrial REIT, Inc. (NYSE:PLYM)’s stock price reached a new 52-week low on Monday . The company traded as low as $16.25 and last traded at $16.39, with a volume of 8682 shares traded. The stock had previously closed at $16.35.

Analysts Set New Price Targets

Several equities research analysts recently commented on PLYM shares. Barclays dropped their price objective on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Robert W. Baird reduced their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Truist Financial downgraded Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. JPMorgan Chase & Co. dropped their price target on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Finally, JMP Securities restated a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $23.89.

Plymouth Industrial REIT Trading Up 0.7 %

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 company has a market cap of $747.12 million, a P/E ratio of 822.50 and a beta of 1.33. The stock’s 50-day moving average is $17.56 and its two-hundred day moving average is $20.43.

Plymouth Industrial REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date of this dividend was Tuesday, December 31st. Plymouth Industrial REIT’s payout ratio is 4,800.00%.

Insider Activity

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

Institutional Trading of Plymouth Industrial REIT

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Thompson Siegel & Walmsley LLC bought a new stake in shares of Plymouth Industrial REIT in the 4th quarter worth about $7,443,000. Charles Schwab Investment Management Inc. increased its stake in Plymouth Industrial REIT by 24.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock worth $20,583,000 after acquiring an additional 180,003 shares during the last quarter. Jennison Associates LLC raised its position in Plymouth Industrial REIT by 4.1% during the third quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock valued at $99,471,000 after purchasing an additional 174,836 shares during the period. Foundry Partners LLC bought a new stake in shares of Plymouth Industrial REIT in the 3rd quarter valued at approximately $3,725,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Plymouth Industrial REIT by 8.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 890,653 shares of the company’s stock worth $20,129,000 after purchasing an additional 66,886 shares during the period. 92.67% of the stock is currently owned by institutional investors.

About Plymouth Industrial REIT

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.