Plymouth Industrial REIT, Inc. (NYSE:PLYM) Short Interest Up 68.6% in March

Plymouth Industrial REIT, Inc. (NYSE:PLYM) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 805,500 shares, an increase of 68.6% from the February 28th total of 477,800 shares. Based on an average trading volume of 356,400 shares, the short-interest ratio is currently 2.3 days. Approximately 1.8% of the company’s stock are sold short.

Institutional Trading of Plymouth Industrial REIT

Large investors have recently added to or reduced their stakes in the stock. 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 purchasing an additional 860 shares in the last quarter. Loomis Sayles & Co. L P increased its position in shares of Plymouth Industrial REIT by 3,130.6% during the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after buying an additional 1,941 shares during the period. Point72 DIFC Ltd bought a new position in Plymouth Industrial REIT in the third quarter worth about $46,000. Quadrant Capital Group LLC lifted its holdings in Plymouth Industrial REIT by 38.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock worth $54,000 after buying an additional 844 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in shares of Plymouth Industrial REIT in the 3rd quarter worth approximately $123,000. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Price Performance

NYSE PLYM traded down $0.11 during trading hours on Monday, reaching $16.51. 12,220 shares of the stock traded hands, compared to its average volume of 351,170. The stock has a 50 day simple moving average of $16.83 and a two-hundred day simple moving average of $18.76. Plymouth Industrial REIT has a 1 year low of $16.06 and a 1 year high of $24.71. 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 cap of $751.82 million, a price-to-earnings ratio of 825.35 and a beta of 1.45.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.82%. Plymouth Industrial REIT’s dividend payout ratio is presently 31.37%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PLYM shares. Robert W. Baird lowered their target price on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Truist Financial decreased their price objective on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating for the company in a report on Monday, March 24th. JMP Securities reiterated a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. JPMorgan Chase & Co. decreased their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Finally, Wedbush set a $17.00 target price on shares of Plymouth Industrial REIT in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.00.

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.