Plymouth Industrial REIT (NYSE:PLYM) Hits New 1-Year Low – What’s Next?

Plymouth Industrial REIT, Inc. (NYSE:PLYM)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.06 and last traded at $16.48, with a volume of 28151 shares traded. The stock had previously closed at $16.62.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PLYM. BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research note on Friday, November 8th. Robert W. Baird lowered their target price on 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. JPMorgan Chase & Co. lowered their target price on 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. JMP Securities reiterated a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Finally, Barclays lowered their target price on 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.89.

Plymouth Industrial REIT Stock Performance

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 has a market capitalization of $786.14 million, a PE ratio of 866.00 and a beta of 1.33. The stock has a 50 day moving average of $16.96 and a two-hundred day moving average of $19.74.

Plymouth Industrial REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors 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 5.54%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 31.37%.

Institutional Trading of Plymouth Industrial REIT

A number of institutional investors have recently modified their holdings of PLYM. Quarry LP boosted 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 valued at $41,000 after buying an additional 860 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in Plymouth Industrial REIT by 3,130.6% during the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock worth $45,000 after purchasing an additional 1,941 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Plymouth Industrial REIT during the third quarter worth $46,000. Quadrant Capital Group LLC raised its holdings in Plymouth Industrial REIT by 38.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock worth $54,000 after purchasing an additional 844 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Plymouth Industrial REIT during the third quarter worth $123,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

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.