Plymouth Industrial REIT (NYSE:PLYM) Reaches New 1-Year Low After Analyst Downgrade

Plymouth Industrial REIT, Inc. (NYSE:PLYM) shares reached a new 52-week low on Tuesday after Robert W. Baird lowered their price target on the stock from $26.00 to $25.00. Robert W. Baird currently has an outperform rating on the stock. Plymouth Industrial REIT traded as low as $19.76 and last traded at $19.77, with a volume of 192882 shares traded. The stock had previously closed at $20.86.

A number of other brokerages have also commented on PLYM. BNP Paribas lowered shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a report on Friday, November 8th. B. Riley raised 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 Monday, August 5th. Wedbush raised their price objective on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Barclays raised their price objective on shares of Plymouth Industrial REIT from $22.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Finally, Truist Financial lifted their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Plymouth Industrial REIT currently has an average rating of “Hold” and a consensus target price of $25.22.

Insider Activity

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of Plymouth Industrial REIT stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the completion of the sale, the insider now owns 4,474,292 shares of the company’s stock, valued at approximately $105,503,805.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Trading of Plymouth Industrial REIT

Hedge funds and other institutional investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. raised its stake in Plymouth Industrial REIT by 2.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 22,192 shares of the company’s stock worth $470,000 after purchasing an additional 490 shares in the last quarter. American International Group Inc. raised its position in shares of Plymouth Industrial REIT by 2.5% in the 1st quarter. American International Group Inc. now owns 22,508 shares of the company’s stock valued at $506,000 after buying an additional 544 shares in the last quarter. Tidal Investments LLC increased its position in Plymouth Industrial REIT by 5.8% during the 1st quarter. Tidal Investments LLC now owns 19,915 shares of the company’s stock worth $448,000 after purchasing an additional 1,088 shares in the last quarter. EntryPoint Capital LLC increased its position in Plymouth Industrial REIT by 33.9% during the 1st quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock worth $112,000 after purchasing an additional 1,266 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Plymouth Industrial REIT by 11.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company’s stock worth $290,000 after purchasing an additional 1,317 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Down 0.5 %

The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $887.57 million, a P/E ratio of 983.50, a price-to-earnings-growth ratio of 1.53 and a beta of 1.37. The stock’s fifty day simple moving average is $21.80 and its two-hundred day simple moving average is $22.02.

Plymouth Industrial REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date was Monday, September 30th. Plymouth Industrial REIT’s payout ratio is 4,800.00%.

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.