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

Plymouth Industrial REIT, Inc. (NYSE:PLYM) shares hit a new 52-week low during mid-day trading on Monday after Barclays lowered their price target on the stock from $25.00 to $22.00. Barclays currently has an equal weight rating on the stock. Plymouth Industrial REIT traded as low as $18.21 and last traded at $18.21, with a volume of 4603 shares changing hands. The stock had previously closed at $18.38.

Several other equities analysts also recently commented on the company. B. Riley raised their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wedbush upped their target price 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. BNP Paribas cut 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 research note on Friday, November 8th. BMO Capital Markets reduced their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Wednesday, August 28th. Finally, Truist Financial raised their price target on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $24.89.

Insider Activity at Plymouth Industrial REIT

In other news, Director Pendleton P. Jr. White acquired 5,000 shares of the stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $91,950. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey E. Witherell bought 2,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 252,248 shares in the company, valued at approximately $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. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Plymouth Industrial REIT

Hedge funds and other institutional investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. grew its holdings in shares of Plymouth Industrial REIT by 2.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 22,192 shares of the company’s stock valued at $470,000 after purchasing an additional 490 shares during the last quarter. American International Group Inc. lifted 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 worth $506,000 after purchasing an additional 544 shares during the period. Quarry LP increased its holdings in Plymouth Industrial REIT by 88.4% in the third quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after purchasing an additional 860 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Plymouth Industrial REIT by 1.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock valued at $1,064,000 after buying an additional 900 shares during the period. Finally, Tidal Investments LLC lifted its holdings in shares of Plymouth Industrial REIT by 5.8% in 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. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Performance

The firm has a market cap of $843.10 million, a P/E ratio of 928.75, a PEG ratio of 1.43 and a beta of 1.37. The company’s 50-day moving average is $21.36 and its two-hundred day moving average is $21.95. 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 disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 5.17%. Plymouth Industrial REIT’s dividend payout ratio (DPR) 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.