Plymouth Industrial REIT (NYSE:PLYM) Reaches New 52-Week Low – Time to Sell?

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 $16.92 and last traded at $16.96, with a volume of 140535 shares. The stock had previously closed at $17.24.

Analyst Upgrades and Downgrades

PLYM has been the subject of a number of research reports. BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price for the company. in a research report on Friday, November 8th. Truist Financial lowered their price objective on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Robert W. Baird reduced their target price on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, Barclays lowered their price target 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Plymouth Industrial REIT currently has a consensus rating of “Hold” and an average price target of $24.33.

Plymouth Industrial REIT Stock Down 1.6 %

The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. The company’s fifty day moving average price is $18.72 and its 200-day moving average price is $21.29. The stock has a market cap of $769.80 million, a P/E ratio of 848.00, a price-to-earnings-growth ratio of 1.47 and a beta of 1.34.

Plymouth Industrial REIT Dividend Announcement

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

Insider Transactions at Plymouth Industrial REIT

In related news, CEO Jeffrey E. Witherell purchased 2,000 shares of Plymouth Industrial REIT stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $18.49 per share, with a total value of $36,980.00. Following the purchase, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pendleton P. Jr. White acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $18.39 per share, with a total value of $91,950.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at $91,950. This represents a ∞ 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 Inflows and Outflows

Several institutional investors have recently bought and sold shares of PLYM. Jennison Associates LLC grew its position in shares of Plymouth Industrial REIT by 4.1% during the 3rd quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock worth $99,471,000 after buying an additional 174,836 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in Plymouth Industrial REIT by 1.0% in 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 period. State Street Corp grew its holdings in Plymouth Industrial REIT by 1.4% during the 3rd quarter. State Street Corp now owns 1,223,747 shares of the company’s stock worth $27,949,000 after acquiring an additional 16,398 shares in the last quarter. Geode Capital Management LLC increased its position 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 valued at $23,685,000 after purchasing an additional 29,924 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of 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 valued at $20,583,000 after purchasing an additional 180,003 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

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.