Plymouth Industrial REIT, Inc. (NYSE:PLYM) Short Interest Down 16.0% in February

Plymouth Industrial REIT, Inc. (NYSE:PLYM) saw a significant decline in short interest in February. As of February 15th, there was short interest totalling 699,000 shares, a decline of 16.0% from the January 31st total of 832,000 shares. Based on an average daily volume of 323,800 shares, the days-to-cover ratio is currently 2.2 days.

Plymouth Industrial REIT Trading Down 0.1 %

Shares of Plymouth Industrial REIT stock traded down $0.02 during midday trading on Wednesday, reaching $17.29. 194,994 shares of the company’s stock traded hands, compared to its average volume of 335,601. The stock has a 50 day moving average of $16.94 and a 200-day moving average of $19.60. Plymouth Industrial REIT has a 12 month low of $16.06 and a 12 month high of $24.71. The company has a market cap of $784.55 million, a PE ratio of 865.75 and a beta of 1.33. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12.

Plymouth Industrial REIT Dividend Announcement

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 was Tuesday, December 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.55%. Plymouth Industrial REIT’s dividend payout ratio is 31.37%.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several hedge funds and other institutional investors have recently modified their holdings of PLYM. Westwood Holdings Group Inc. grew its holdings in shares of 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 acquiring an additional 901,251 shares during the period. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Plymouth Industrial REIT during the fourth quarter valued at approximately $10,433,000. Adage Capital Partners GP L.L.C. purchased a new stake in Plymouth Industrial REIT in the fourth quarter worth $9,612,000. Thompson Siegel & Walmsley LLC bought a new position in Plymouth Industrial REIT in the fourth quarter worth $7,443,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Plymouth Industrial REIT by 24.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock worth $20,583,000 after purchasing an additional 180,003 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PLYM. BNP Paribas cut shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research report on Friday, November 8th. Truist Financial downgraded Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Robert W. Baird cut their price objective on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays decreased their price objective on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. dropped their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.33.

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.