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

Plymouth Industrial REIT, Inc. (NYSE:PLYM)’s share price reached a new 52-week low on Thursday . The company traded as low as $16.92 and last traded at $16.96, with a volume of 140535 shares. The stock had previously closed at $17.24.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays decreased their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Robert W. Baird lowered their price objective on 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. BNP Paribas cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price for the company. in a report on Friday, November 8th. Finally, Truist Financial decreased their price target on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, November 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $24.33.

Plymouth Industrial REIT Stock Down 2.5 %

The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. The company has a 50-day simple moving average of $18.58 and a 200 day simple moving average of $21.23. The company has a market cap of $751.64 million, a P/E ratio of 828.00, a P/E/G ratio of 1.47 and a beta of 1.34.

Plymouth Industrial REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend is Tuesday, December 31st. Plymouth Industrial REIT’s payout ratio is presently 4,800.00%.

Insider Activity at Plymouth Industrial REIT

In related news, CEO Jeffrey E. Witherell bought 2,000 shares of Plymouth Industrial REIT stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $18.49 per share, with a total value of $36,980.00. Following the completion of the transaction, the chief executive officer now owns 252,248 shares in the company, valued at $4,664,065.52. The trade was a 0.80 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Pendleton P. Jr. White purchased 5,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $18.39 per share, with a total value of $91,950.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $91,950. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plymouth Industrial REIT

Institutional investors have recently made changes to their positions in the company. Jennison Associates LLC lifted its stake in Plymouth Industrial REIT by 4.1% in the third quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock worth $99,471,000 after acquiring an additional 174,836 shares during the period. Westwood Holdings Group Inc. lifted its position in shares of Plymouth Industrial REIT by 1.0% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock worth $63,372,000 after purchasing an additional 28,272 shares during the period. State Street Corp boosted its stake in shares of Plymouth Industrial REIT by 1.4% during the third quarter. State Street Corp now owns 1,223,747 shares of the company’s stock valued at $27,949,000 after purchasing an additional 16,398 shares in the last quarter. Geode Capital Management LLC increased its holdings in Plymouth Industrial REIT by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock valued at $23,685,000 after buying an additional 29,924 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Plymouth Industrial REIT by 24.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock valued at $20,583,000 after buying an additional 180,003 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.