Plymouth Industrial REIT (NYSE:PLYM) Sets New 12-Month Low – What’s Next?

Plymouth Industrial REIT, Inc. (NYSE:PLYM)’s share price hit a new 52-week low on Monday . The company traded as low as $16.33 and last traded at $16.61, with a volume of 15252 shares changing hands. The stock had previously closed at $16.80.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PLYM. Robert W. Baird decreased their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Barclays cut their target price on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. BNP Paribas cut shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research report on Friday, November 8th. JPMorgan Chase & Co. dropped their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Finally, Truist Financial downgraded shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $23.89.

Plymouth Industrial REIT Price Performance

The company has a market capitalization of $758.69 million, a P/E ratio of 836.00 and a beta of 1.33. 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’s 50-day moving average price is $17.77 and its two-hundred day moving average price is $20.69.

Plymouth Industrial REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date was Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 4,800.00%.

Insider Activity at Plymouth Industrial REIT

In related news, CEO Jeffrey E. Witherell acquired 2,000 shares of Plymouth Industrial REIT stock in a transaction on Friday, November 15th. The shares were bought at an average cost of $18.49 per share, with a total value of $36,980.00. Following the completion of the purchase, the chief executive officer now directly owns 252,248 shares of the company’s stock, valued at $4,664,065.52. The trade was a 0.80 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Pendleton P. Jr. White bought 5,000 shares of the 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 completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $91,950. This trade represents a ∞ increase in their position. 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 added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in shares of Plymouth Industrial REIT by 115.6% during the 2nd quarter. Millennium Management LLC now owns 338,894 shares of the company’s stock worth $7,246,000 after acquiring an additional 181,725 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Plymouth Industrial REIT by 24.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock worth $20,583,000 after buying an additional 180,003 shares during the period. Jennison Associates LLC increased its holdings in Plymouth Industrial REIT by 4.1% during the 3rd quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock worth $99,471,000 after purchasing an additional 174,836 shares during the period. Foundry Partners LLC acquired a new stake in shares of Plymouth Industrial REIT in the 3rd quarter valued at $3,725,000. Finally, JPMorgan Chase & Co. lifted its stake in Plymouth Industrial REIT by 8.1% during the third quarter. JPMorgan Chase & Co. now owns 890,653 shares of the company’s stock worth $20,129,000 after purchasing an additional 66,886 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Company Profile

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.