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

Plymouth Industrial REIT, Inc. (NYSE:PLYM)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $16.25 and last traded at $16.39, with a volume of 8682 shares. The stock had previously closed at $16.35.

Analysts Set New Price Targets

PLYM has been the subject of several research reports. 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. JPMorgan Chase & Co. dropped their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Barclays lowered their price target on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Robert W. Baird cut their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, 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. 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. Based on data from MarketBeat.com, Plymouth Industrial REIT presently has an average 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 company has a market capitalization of $747.12 million, a price-to-earnings ratio of 822.50 and a beta of 1.33. The firm has a fifty day simple moving average of $17.56 and a 200 day simple moving average of $20.43.

Plymouth Industrial REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.83%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 4,800.00%.

Insider Buying and Selling

In related news, Director Pendleton P. Jr. White purchased 5,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey E. Witherell purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost of $18.49 per share, with a total value of $36,980.00. Following the acquisition, the chief executive officer now owns 252,248 shares of the company’s stock, valued at approximately $4,664,065.52. The trade was a 0.80 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans grew its position in Plymouth Industrial REIT by 6.4% in the third quarter. Thrivent Financial for Lutherans now owns 455,092 shares of the company’s stock worth $10,285,000 after acquiring an additional 27,463 shares during the period. Barclays PLC increased its position in shares of Plymouth Industrial REIT by 321.2% during the 3rd quarter. Barclays PLC now owns 63,101 shares of the company’s stock worth $1,426,000 after purchasing an additional 48,119 shares during the last quarter. Foundry Partners LLC acquired a new position in Plymouth Industrial REIT in the third quarter valued at about $3,725,000. Geode Capital Management LLC boosted its stake 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 worth $23,685,000 after buying an additional 29,924 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Plymouth Industrial REIT by 137.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,201 shares of the company’s stock valued at $1,519,000 after acquiring an additional 38,850 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

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.