Plymouth Industrial REIT (NYSE:PLYM) Reaches New 52-Week Low – Time to Sell?

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $16.06 and last traded at $16.48, with a volume of 28151 shares traded. The stock had previously closed at $16.62.

Wall Street Analysts Forecast Growth

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

Plymouth Industrial REIT Stock Performance

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 stock’s 50-day moving average is $16.99 and its 200 day moving average is $19.80. The stock has a market cap of $761.67 million, a price-to-earnings ratio of 839.00 and a beta of 1.33.

Plymouth Industrial REIT Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 5.72%. Plymouth Industrial REIT’s payout ratio is 4,800.00%.

Institutional Trading of Plymouth Industrial REIT

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC boosted its holdings in Plymouth Industrial REIT by 4.1% during the third quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock worth $99,471,000 after buying an additional 174,836 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Plymouth Industrial REIT by 33.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company’s stock worth $64,634,000 after purchasing an additional 901,251 shares in the last quarter. State Street Corp grew its holdings in shares of Plymouth Industrial REIT by 1.4% during the 3rd quarter. State Street Corp now owns 1,223,747 shares of the company’s stock valued at $27,949,000 after acquiring an additional 16,398 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Plymouth Industrial REIT by 2.9% during the 3rd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Plymouth Industrial REIT by 24.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock valued at $20,583,000 after acquiring an additional 180,003 shares during the last quarter. 92.67% of the stock is currently 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.