Plymouth Industrial REIT (NYSE:PLYM) Reaches New 1-Year Low After Analyst Downgrade

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) reached a new 52-week low during mid-day trading on Tuesday after Robert W. Baird lowered their price target on the stock from $26.00 to $25.00. Robert W. Baird currently has an outperform rating on the stock. Plymouth Industrial REIT traded as low as $19.76 and last traded at $19.77, with a volume of 192882 shares trading hands. The stock had previously closed at $20.86.

PLYM has been the subject of a number of other research reports. BNP Paribas lowered shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research report on Friday, November 8th. Wedbush increased their price target on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. JMP Securities reissued a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. Barclays increased their price target on shares of Plymouth Industrial REIT from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Finally, Truist Financial increased their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Plymouth Industrial REIT has a consensus rating of “Hold” and an average price target of $25.22.

Insiders Place Their Bets

In other Plymouth Industrial REIT news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the sale, the insider now directly owns 4,474,292 shares of the company’s stock, valued at approximately $105,503,805.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Institutional Trading of Plymouth Industrial REIT

Several hedge funds have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. grew its stake in shares of Plymouth Industrial REIT by 2.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 22,192 shares of the company’s stock valued at $470,000 after purchasing an additional 490 shares during the last quarter. American International Group Inc. grew its stake in shares of Plymouth Industrial REIT by 2.5% during the first quarter. American International Group Inc. now owns 22,508 shares of the company’s stock valued at $506,000 after purchasing an additional 544 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Plymouth Industrial REIT by 5.8% during the first quarter. Tidal Investments LLC now owns 19,915 shares of the company’s stock valued at $448,000 after purchasing an additional 1,088 shares during the last quarter. EntryPoint Capital LLC grew its stake in shares of Plymouth Industrial REIT by 33.9% during the first quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock valued at $112,000 after purchasing an additional 1,266 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 valued at $290,000 after acquiring an additional 1,317 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Plymouth Industrial REIT Trading Down 0.5 %

The stock has a market capitalization of $887.57 million, a P/E ratio of 983.50, a PEG ratio of 1.53 and a beta of 1.37. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.16 and a quick ratio of 0.16. The business’s 50 day simple moving average is $21.80 and its 200-day simple moving average is $22.02.

Plymouth Industrial REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 4.91%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 4,800.00%.

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.