Plymouth Industrial REIT (NYSE:PLYM) Sets New 1-Year Low – Time to Sell?

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. 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. Barclays dropped their price target on 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 for the company. in a report on Friday, November 8th. Truist Financial lowered Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Finally, Robert W. Baird decreased their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $23.89.

Plymouth Industrial REIT Trading Down 0.5 %

The company has a market capitalization of $758.69 million, a P/E ratio of 836.00 and a beta of 1.33. 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 stock’s 50 day moving average is $17.77 and its 200-day moving average is $20.69.

Plymouth Industrial REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.74%. Plymouth Industrial REIT’s dividend payout ratio is presently 4,800.00%.

Insider Transactions at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, CEO Jeffrey E. Witherell bought 2,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the completion of the transaction, the chief executive officer now owns 252,248 shares in the company, valued at $4,664,065.52. This trade represents a 0.80 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pendleton P. Jr. White acquired 5,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the purchase, 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. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of hedge funds have recently bought and sold shares of the business. Quarry LP grew its stake in shares of Plymouth Industrial REIT by 88.4% in the third quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after acquiring an additional 860 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Plymouth Industrial REIT by 1.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock valued at $1,064,000 after acquiring an additional 900 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Plymouth Industrial REIT by 2.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company’s stock worth $736,000 after acquiring an additional 952 shares during the period. Rhumbline Advisers lifted its position in shares of Plymouth Industrial REIT by 1.4% during the 4th quarter. Rhumbline Advisers now owns 73,529 shares of the company’s stock valued at $1,309,000 after acquiring an additional 1,010 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in shares of Plymouth Industrial REIT by 11.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company’s stock worth $290,000 after buying an additional 1,317 shares in the last quarter. Hedge funds and other 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.