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

Plymouth Industrial REIT, Inc. (NYSE:PLYM)’s stock price reached a new 52-week low during 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 Upgrades and Downgrades

Several research analysts recently commented on PLYM shares. Barclays reduced their target price on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. BNP Paribas lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price for the company. in a research note on Friday, November 8th. Robert W. Baird lowered their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. reduced their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Finally, Truist Financial cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Plymouth Industrial REIT presently has a consensus rating of “Hold” and an average price target of $23.89.

Plymouth Industrial REIT Trading Up 1.0 %

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 50-day moving average of $17.69 and a two-hundred day moving average of $20.59. The firm has a market capitalization of $768.63 million, a P/E ratio of 846.70 and a beta of 1.33.

Plymouth Industrial REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date was Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio is 4,800.00%.

Insider Buying and Selling at Plymouth Industrial REIT

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 stock was purchased at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the transaction, the director now owns 5,000 shares in the company, valued at $91,950. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey E. Witherell purchased 2,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $18.49 per share, for a total transaction of $36,980.00. Following the acquisition, the chief executive officer now owns 252,248 shares of the company’s stock, valued at $4,664,065.52. This trade represents a 0.80 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Plymouth Industrial REIT

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP boosted its position in Plymouth Industrial REIT by 88.4% during the third quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after acquiring an additional 860 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Plymouth Industrial REIT by 1.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock valued at $1,064,000 after purchasing an additional 900 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake 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 purchasing an additional 952 shares during the period. Rhumbline Advisers increased its holdings in Plymouth Industrial REIT by 1.4% in the fourth quarter. Rhumbline Advisers now owns 73,529 shares of the company’s stock worth $1,309,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Plymouth Industrial REIT by 11.4% in the third quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company’s stock valued at $290,000 after buying an additional 1,317 shares during the period. Institutional investors and hedge funds 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.