Plymouth Industrial REIT (NYSE:PLYM) Hits New 1-Year Low – Here’s Why

Plymouth Industrial REIT, Inc. (NYSE:PLYM)’s stock price hit a new 52-week low on Thursday . The company traded as low as $15.57 and last traded at $15.61, with a volume of 27109 shares traded. The stock had previously closed at $16.32.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PLYM. Wedbush set a $17.00 price target on shares of Plymouth Industrial REIT in a report on Friday, February 28th. Robert W. Baird lowered their price objective on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Truist Financial cut their target price on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. lowered their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Finally, JMP Securities restated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. One 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 stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.56.

Plymouth Industrial REIT Stock Down 4.5 %

The company’s 50-day simple moving average is $16.74 and its two-hundred day simple moving average is $18.56. 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 firm has a market capitalization of $671.42 million, a P/E ratio of 737.00 and a beta of 1.19.

Plymouth Industrial REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 6.51%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 31.37%.

Institutional Trading of Plymouth Industrial REIT

Several hedge funds have recently bought and sold shares of PLYM. Barclays PLC lifted its position in shares of Plymouth Industrial REIT by 321.2% during the 3rd quarter. Barclays PLC now owns 63,101 shares of the company’s stock valued at $1,426,000 after buying an additional 48,119 shares in the last quarter. Geode Capital Management LLC raised its stake in Plymouth Industrial REIT by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock worth $23,685,000 after acquiring an additional 29,924 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Plymouth Industrial REIT by 137.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,201 shares of the company’s stock valued at $1,519,000 after purchasing an additional 38,850 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Plymouth Industrial REIT in the third quarter worth approximately $248,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Plymouth Industrial REIT by 24.6% in 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 during the period. Institutional investors own 92.67% of the company’s stock.

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.