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 on Friday . The stock traded as low as $17.20 and last traded at $17.26, with a volume of 5861 shares. The stock had previously closed at $17.31.

Analysts Set New Price Targets

PLYM has been the subject of several recent analyst reports. Truist Financial lowered their target price 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. Barclays lowered their price objective on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Robert W. Baird reduced their target price on 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, BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target for the company. in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $24.33.

Plymouth Industrial REIT Stock Up 0.5 %

The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $789.77 million, a price-to-earnings ratio of 870.00, a PEG ratio of 1.47 and a beta of 1.34. The firm has a 50-day moving average price of $18.92 and a two-hundred day moving average price of $21.37.

Plymouth Industrial REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.52%. Plymouth Industrial REIT’s dividend payout ratio is currently 4,800.00%.

Insider Activity

In related news, Director Pendleton P. Jr. White bought 5,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $18.39 per share, with a total value of $91,950.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $91,950. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey E. Witherell bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $18.49 per share, for a total transaction of $36,980.00. Following the acquisition, the chief executive officer now directly owns 252,248 shares of the company’s stock, valued at $4,664,065.52. This represents a 0.80 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP raised its position in Plymouth Industrial REIT by 88.4% during the third quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after acquiring an additional 860 shares in the last quarter. Copeland Capital Management LLC acquired a new position in shares of Plymouth Industrial REIT during the 3rd quarter worth about $43,000. Loomis Sayles & Co. L P raised its holdings in shares of Plymouth Industrial REIT by 3,130.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after purchasing an additional 1,941 shares during the period. Point72 DIFC Ltd acquired a new stake in Plymouth Industrial REIT in the 3rd quarter valued at about $46,000. Finally, Point72 Hong Kong Ltd bought a new position in Plymouth Industrial REIT during the third quarter worth about $123,000. 92.67% of the stock is owned by institutional investors.

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.