Plymouth Industrial REIT (NYSE:PLYM) Reaches New 1-Year Low – Time to Sell?

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target for the company. in a research report on Friday, November 8th. Robert W. Baird reduced their target price on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Barclays reduced their price target on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. JPMorgan Chase & Co. reduced their price target on shares of 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, Truist Financial downgraded Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.89.

Plymouth Industrial REIT Stock Performance

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 firm’s fifty day moving average price is $17.48 and its 200 day moving average price is $20.32. The firm has a market capitalization of $754.93 million, a PE ratio of 831.60 and a beta of 1.33.

Plymouth Industrial REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders 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 dividend on an annualized basis and a dividend yield of 5.77%. Plymouth Industrial REIT’s dividend payout ratio is currently 4,800.00%.

Insider Transactions at Plymouth Industrial REIT

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

Institutional Trading of Plymouth Industrial REIT

A number of large investors have recently bought and sold shares of the stock. Quarry LP increased its holdings in shares of Plymouth Industrial REIT by 88.4% during the third quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after buying an additional 860 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Plymouth Industrial REIT by 1.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock valued at $1,064,000 after purchasing an additional 900 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Plymouth Industrial REIT by 2.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company’s stock valued at $736,000 after purchasing an additional 952 shares in the last quarter. Rhumbline Advisers raised its position in Plymouth Industrial REIT by 1.4% in the 4th quarter. Rhumbline Advisers now owns 73,529 shares of the company’s stock valued at $1,309,000 after purchasing an additional 1,010 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Plymouth Industrial REIT by 11.4% in the third quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company’s stock worth $290,000 after purchasing an additional 1,317 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

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.