Plymouth Industrial REIT (NYSE:PLYM) Hits New 1-Year Low – Should You Sell?

Plymouth Industrial REIT, Inc. (NYSE:PLYM)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $16.92 and last traded at $16.96, with a volume of 140535 shares changing hands. The stock had previously closed at $17.24.

Analyst Ratings Changes

PLYM has been the subject of several research analyst reports. Truist Financial reduced their price objective on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 29th. Barclays decreased their price objective on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. 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 research report on Friday, November 8th. Finally, Robert W. Baird cut their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Plymouth Industrial REIT has an average rating of “Hold” and a consensus price target of $24.33.

Plymouth Industrial REIT Stock Down 1.6 %

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 firm has a market cap of $769.80 million, a PE ratio of 848.00, a PEG ratio of 1.47 and a beta of 1.34. The company’s 50 day moving average price is $18.72 and its two-hundred day moving average price is $21.29.

Plymouth Industrial REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.66%. The ex-dividend date of this dividend is Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio is presently 4,800.00%.

Insiders Place Their Bets

In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White purchased 5,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were acquired at an average cost of $18.39 per share, with a total value of $91,950.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at $91,950. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey E. Witherell acquired 2,000 shares of the stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $18.49 per share, for a total transaction of $36,980.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Plymouth Industrial REIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLYM. Jennison Associates LLC boosted its stake in Plymouth Industrial REIT by 4.1% in the 3rd quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock worth $99,471,000 after purchasing an additional 174,836 shares during the period. Westwood Holdings Group Inc. boosted its position in shares of Plymouth Industrial REIT by 1.0% during the second quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock worth $63,372,000 after acquiring an additional 28,272 shares during the last quarter. State Street Corp grew its stake in Plymouth Industrial REIT by 1.4% during the third quarter. State Street Corp now owns 1,223,747 shares of the company’s stock valued at $27,949,000 after acquiring an additional 16,398 shares in the last quarter. Geode Capital Management LLC increased its holdings in Plymouth Industrial REIT by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock valued at $23,685,000 after acquiring an additional 29,924 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Plymouth Industrial REIT by 24.6% in the 3rd 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. Institutional investors own 92.67% of the company’s stock.

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.