Plymouth Industrial REIT (NYSE:PLYM) Sets New 52-Week Low – What’s Next?

Plymouth Industrial REIT, Inc. (NYSE:PLYM) reached a new 52-week low on Friday . The company traded as low as $17.20 and last traded at $17.26, with a volume of 5861 shares trading hands. The stock had previously closed at $17.31.

Wall Street Analyst Weigh In

A number of research analysts have commented on PLYM shares. Truist Financial cut their price target on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, November 29th. BNP Paribas cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research report on Friday, November 8th. Robert W. Baird cut their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Finally, Barclays lowered 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 report on Monday, November 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Plymouth Industrial REIT presently has an average rating of “Hold” and a consensus price target of $24.33.

Plymouth Industrial REIT Price Performance

The stock has a fifty day moving average of $18.92 and a 200-day moving average of $21.37. The firm has a market capitalization of $789.77 million, a P/E ratio of 870.00, a PEG ratio of 1.47 and a beta of 1.34. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42.

Plymouth Industrial REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.52%. Plymouth Industrial REIT’s payout ratio is 4,800.00%.

Insider Activity at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White bought 5,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were bought 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 approximately $91,950. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey E. Witherell bought 2,000 shares of Plymouth Industrial REIT 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 purchase, the chief executive officer now directly owns 252,248 shares in the company, valued at approximately $4,664,065.52. The trade was a 0.80 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in Plymouth Industrial REIT by 8.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 890,653 shares of the company’s stock worth $20,129,000 after acquiring an additional 66,886 shares during the period. Tidal Investments LLC boosted its position in shares of Plymouth Industrial REIT by 7.4% in the 3rd quarter. Tidal Investments LLC now owns 23,433 shares of the company’s stock worth $530,000 after purchasing an additional 1,614 shares during the last quarter. Barclays PLC grew its stake in shares of Plymouth Industrial REIT by 321.2% during the third quarter. Barclays PLC now owns 63,101 shares of the company’s stock worth $1,426,000 after purchasing an additional 48,119 shares during the period. Geode Capital Management LLC grew its stake in shares of Plymouth Industrial REIT by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock worth $23,685,000 after purchasing an additional 29,924 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Plymouth Industrial REIT by 1.9% in the third 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 during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.