Plymouth Industrial REIT, Inc. (NYSE:PLYM) Short Interest Update

Plymouth Industrial REIT, Inc. (NYSE:PLYM) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 477,800 shares, a decrease of 31.6% from the February 13th total of 699,000 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 345,600 shares, the short-interest ratio is currently 1.4 days.

Plymouth Industrial REIT Stock Up 2.3 %

Shares of NYSE:PLYM opened at $17.34 on Tuesday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The business has a fifty day moving average of $16.80 and a two-hundred day moving average of $19.15. The stock has a market cap of $789.95 million, a P/E ratio of 867.10 and a beta of 1.45. Plymouth Industrial REIT has a 52-week low of $16.06 and a 52-week high of $24.71.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio is currently 31.37%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PLYM. JPMorgan Chase & Co. lowered their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Robert W. Baird lowered their target price on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Truist Financial downgraded Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. JMP Securities restated a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Finally, Wedbush set a $17.00 price target on Plymouth Industrial REIT in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.44.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of hedge funds have recently modified their holdings of PLYM. GSA Capital Partners LLP purchased a new position in Plymouth Industrial REIT during the third quarter worth about $393,000. Victory Capital Management Inc. boosted its stake in Plymouth Industrial REIT by 4.7% during the third quarter. Victory Capital Management Inc. now owns 57,700 shares of the company’s stock worth $1,304,000 after buying an additional 2,600 shares during the period. Thrivent Financial for Lutherans boosted its stake in Plymouth Industrial REIT by 6.4% during the third quarter. Thrivent Financial for Lutherans now owns 455,092 shares of the company’s stock worth $10,285,000 after buying an additional 27,463 shares during the period. Quest Partners LLC boosted its stake in shares of Plymouth Industrial REIT by 1,151,200.0% in the third quarter. Quest Partners LLC now owns 23,026 shares of the company’s stock valued at $520,000 after purchasing an additional 23,024 shares during the period. Finally, Meeder Asset Management Inc. boosted its stake in shares of Plymouth Industrial REIT by 38.9% in the third quarter. Meeder Asset Management Inc. now owns 70,024 shares of the company’s stock valued at $1,583,000 after purchasing an additional 19,607 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.