Short Interest in Plymouth Industrial REIT, Inc. (NYSE:PLYM) Decreases By 19.0%

Plymouth Industrial REIT, Inc. (NYSE:PLYM) saw a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 416,100 shares, a decrease of 19.0% from the August 31st total of 513,700 shares. Based on an average daily volume of 279,100 shares, the days-to-cover ratio is presently 1.5 days.

Plymouth Industrial REIT Price Performance

PLYM opened at $22.77 on Friday. Plymouth Industrial REIT has a 52-week low of $19.21 and a 52-week high of $25.55. The company has a 50 day moving average of $23.52 and a two-hundred day moving average of $22.07. The company has a market cap of $1.03 billion, a P/E ratio of 52.95, a P/E/G ratio of 1.71 and a beta of 1.36. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.49.

Plymouth Industrial REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 4.22%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 223.26%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PLYM shares. B. Riley raised their target price on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. BMO Capital Markets decreased their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Wednesday, August 28th. JMP Securities reissued a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. Wedbush increased their target price on Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Finally, Barclays lifted their target price on Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Plymouth Industrial REIT has a consensus rating of “Hold” and a consensus price target of $25.57.

Insiders Place Their Bets

In other news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of Plymouth Industrial REIT stock in a transaction on Monday, August 19th. The stock was sold at an average price of $23.58, for a total value of $13,285,868.04. Following the completion of the sale, the insider now owns 4,474,292 shares of the company’s stock, valued at $105,503,805.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Plymouth Industrial REIT

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Plymouth Industrial REIT by 2.8% during the first quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock worth $95,943,000 after purchasing an additional 115,318 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Plymouth Industrial REIT by 5.9% during the 1st quarter. Jennison Associates LLC now owns 4,183,540 shares of the company’s stock valued at $94,130,000 after buying an additional 234,536 shares during the period. Westwood Holdings Group Inc. lifted its position in Plymouth Industrial REIT by 1.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock worth $63,372,000 after acquiring an additional 28,272 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Plymouth Industrial REIT by 1.8% in the 4th quarter. Wellington Management Group LLP now owns 1,669,720 shares of the company’s stock worth $40,190,000 after acquiring an additional 29,479 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Plymouth Industrial REIT by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company’s stock valued at $11,480,000 after acquiring an additional 4,265 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.