Plymouth Industrial REIT (NYSE:PLYM) Hits New 1-Year Low – What’s Next?

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JMP Securities restated a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Truist Financial cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. BNP Paribas lowered 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. reduced their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Finally, Barclays reduced their price target on 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.89.

Plymouth Industrial REIT Stock Up 2.9 %

The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $786.14 million, a price-to-earnings ratio of 866.00 and a beta of 1.33. The firm has a 50-day moving average price of $16.96 and a two-hundred day moving average price of $19.74.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend was Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 31.37%.

Institutional Investors Weigh In On Plymouth Industrial REIT

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its position in shares of Plymouth Industrial REIT by 25.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 258,599 shares of the company’s stock worth $4,603,000 after acquiring an additional 53,012 shares in the last quarter. PharVision Advisers LLC purchased a new position in Plymouth Industrial REIT during the 4th quarter worth approximately $241,000. Westwood Holdings Group Inc. grew its stake in Plymouth Industrial REIT by 33.0% during the 4th quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company’s stock worth $64,634,000 after buying an additional 901,251 shares during the last quarter. Two Sigma Advisers LP grew its stake in Plymouth Industrial REIT by 0.6% during the 4th quarter. Two Sigma Advisers LP now owns 185,700 shares of the company’s stock worth $3,305,000 after buying an additional 1,100 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in Plymouth Industrial REIT by 14.7% during the 4th quarter. Tidal Investments LLC now owns 26,889 shares of the company’s stock worth $479,000 after buying an additional 3,456 shares during the last quarter. Institutional investors and hedge funds 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.