Plymouth Industrial REIT, Inc. (NYSE:PLYM) Short Interest Update

Plymouth Industrial REIT, Inc. (NYSE:PLYM) was the target of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 699,000 shares, a drop of 16.0% from the January 31st total of 832,000 shares. Based on an average trading volume of 323,800 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Trading of Plymouth Industrial REIT

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jennison Associates LLC boosted its position in shares of Plymouth Industrial REIT by 4.1% during the 3rd quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock worth $99,471,000 after acquiring an additional 174,836 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in Plymouth Industrial REIT by 33.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company’s stock valued at $64,634,000 after purchasing an additional 901,251 shares in the last quarter. State Street Corp boosted its holdings in Plymouth Industrial REIT by 1.4% in the third quarter. State Street Corp now owns 1,223,747 shares of the company’s stock valued at $27,949,000 after purchasing an additional 16,398 shares in the last quarter. Geode Capital Management LLC increased its stake in Plymouth Industrial REIT by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock valued at $23,685,000 after purchasing an additional 29,924 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings 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 purchasing an additional 180,003 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Plymouth Industrial REIT Stock Up 1.7 %

Plymouth Industrial REIT stock traded up $0.28 during mid-day trading on Friday, reaching $17.03. 184,164 shares of the company’s stock were exchanged, compared to its average volume of 336,732. The company has a fifty day moving average of $16.90 and a 200-day moving average of $19.56. The company has a market cap of $772.97 million, a P/E ratio of 851.50 and a beta of 1.45. 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 has a twelve month low of $16.06 and a twelve month high of $24.71.

Plymouth Industrial REIT Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 5.64%. The ex-dividend date was Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 31.37%.

Analyst Ratings Changes

Several equities analysts have weighed in on PLYM shares. JMP Securities reiterated a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Barclays cut their price objective on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. BNP Paribas lowered shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price for the company. in a research note on Friday, November 8th. Robert W. Baird reduced their price target on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Truist Financial cut shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. One investment 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, Plymouth Industrial REIT currently has an average rating of “Hold” and a consensus target price of $23.33.

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.