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

Plymouth Industrial REIT, Inc. (NYSE:PLYM)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $16.20 and last traded at $16.29, with a volume of 94891 shares. The stock had previously closed at $16.53.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Truist Financial lowered shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Robert W. Baird decreased their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. JPMorgan Chase & Co. decreased their price objective on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Finally, Barclays decreased their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $23.89.

Plymouth Industrial REIT Stock Down 0.8 %

The firm has a market cap of $745.97 million, a P/E ratio of 821.75 and a beta of 1.33. The business’s fifty day moving average price is $17.12 and its two-hundred day moving average price is $19.97. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42.

Plymouth Industrial REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.96 annualized dividend and a yield of 5.84%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 4,800.00%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quarry LP raised its holdings in Plymouth Industrial REIT by 88.4% in the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after acquiring an additional 860 shares during the period. Loomis Sayles & Co. L P increased its holdings in shares of Plymouth Industrial REIT by 3,130.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock worth $45,000 after purchasing an additional 1,941 shares during the period. Point72 DIFC Ltd bought a new position in shares of Plymouth Industrial REIT during the 3rd quarter worth about $46,000. Quadrant Capital Group LLC increased its holdings in shares of Plymouth Industrial REIT by 38.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock worth $54,000 after purchasing an additional 844 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in shares of Plymouth Industrial REIT during the 3rd quarter worth about $123,000. Institutional investors 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.