Plymouth Industrial REIT, Inc. (NYSE:PLYM) Short Interest Up 181.2% in September

Plymouth Industrial REIT, Inc. (NYSE:PLYM) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 1,170,000 shares, a growth of 181.2% from the September 15th total of 416,100 shares. Based on an average daily trading volume, of 281,700 shares, the short-interest ratio is presently 4.2 days.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. BMO Capital Markets lowered their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Wednesday, August 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. JPMorgan Chase & Co. lowered their target price on Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Barclays increased their target price on Plymouth Industrial REIT from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Finally, Truist Financial boosted their price objective on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.57.

Insider Transactions at Plymouth Industrial REIT

In other news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $23.58, for a total value of $13,285,868.04. Following the sale, the insider now owns 4,474,292 shares in the company, valued at $105,503,805.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several large investors have recently added to or reduced their stakes in PLYM. EntryPoint Capital LLC lifted its stake in shares of Plymouth Industrial REIT by 33.9% during the first quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock valued at $112,000 after acquiring an additional 1,266 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position in Plymouth Industrial REIT by 431.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock worth $202,000 after acquiring an additional 7,668 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Plymouth Industrial REIT in the 3rd quarter valued at $204,000. Blue Trust Inc. bought a new stake in Plymouth Industrial REIT during the second quarter worth about $207,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Plymouth Industrial REIT by 8.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 11,838 shares of the company’s stock valued at $266,000 after buying an additional 939 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Up 1.8 %

Shares of NYSE PLYM traded up $0.37 during mid-day trading on Friday, reaching $21.26. The company had a trading volume of 304,199 shares, compared to its average volume of 245,633. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.16 and a current ratio of 0.16. Plymouth Industrial REIT has a twelve month low of $19.21 and a twelve month high of $25.55. The stock’s 50 day moving average is $23.03 and its 200-day moving average is $22.08. The stock has a market capitalization of $965.20 million, a PE ratio of 39.37, a price-to-earnings-growth ratio of 1.62 and a beta of 1.36.

Plymouth Industrial REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.24 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 4.52%. Plymouth Industrial REIT’s dividend payout ratio is 177.78%.

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.