Plymouth Industrial REIT (NYSE:PLYM) Reaches New 1-Year Low – Here’s Why

Plymouth Industrial REIT, Inc. (NYSE:PLYM)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $16.25 and last traded at $16.39, with a volume of 8682 shares traded. The stock had previously closed at $16.35.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PLYM shares. JPMorgan Chase & Co. cut their price target 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. Barclays cut their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Truist Financial cut shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Robert W. Baird cut 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 report on Tuesday, November 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $23.89.

Plymouth Industrial REIT Trading Up 1.1 %

The company has a market capitalization of $754.93 million, a price-to-earnings ratio of 831.60 and a beta of 1.33. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The company’s fifty day simple moving average is $17.48 and its two-hundred day simple moving average is $20.32.

Plymouth Industrial REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders 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 dividend yield of 5.77%. The ex-dividend date was Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio is currently 4,800.00%.

Insiders Place Their Bets

In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White purchased 5,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $18.39 per share, with a total value of $91,950.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $91,950. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey E. Witherell acquired 2,000 shares of the business’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 transaction, the chief executive officer now owns 252,248 shares of the company’s stock, valued at $4,664,065.52. This represents a 0.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Plymouth Industrial REIT

Several large investors have recently made changes to their positions in PLYM. SG Americas Securities LLC bought a new position in Plymouth Industrial REIT during the third quarter worth about $204,000. Copeland Capital Management LLC acquired a new stake in shares of Plymouth Industrial REIT in the third quarter valued at approximately $43,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of Plymouth Industrial REIT during the 3rd quarter worth approximately $202,000. Meixler Investment Management Ltd. acquired a new stake in Plymouth Industrial REIT during the 3rd quarter valued at $482,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Plymouth Industrial REIT during the 3rd quarter worth about $393,000. 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.