Plymouth Industrial REIT (NYSE:PLYM) Sets New 52-Week Low – What’s Next?

Plymouth Industrial REIT, Inc. (NYSE:PLYM)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $18.04 and last traded at $18.13, with a volume of 311763 shares changing hands. The stock had previously closed at $19.10.

Analyst Ratings Changes

PLYM has been the topic of a number of research reports. BMO Capital Markets dropped 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 research note on Wednesday, August 28th. BNP Paribas lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price on the stock. in a research report on Friday, November 8th. Truist Financial cut their price target on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Robert W. Baird lowered their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, JMP Securities restated a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.33.

Plymouth Industrial REIT Stock Up 3.4 %

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 50-day simple moving average of $19.70 and a 200-day simple moving average of $21.62. The stock has a market cap of $817.00 million, a P/E ratio of 900.00, a PEG ratio of 1.47 and a beta of 1.34.

Plymouth Industrial REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.24 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 dividend on an annualized basis and a yield of 5.33%. Plymouth Industrial REIT’s payout ratio is presently 4,800.00%.

Insider Buying and Selling

In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White purchased 5,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at $91,950. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey E. Witherell acquired 2,000 shares of the stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $18.49 per share, for a total transaction of $36,980.00. Following the purchase, 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 position. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of hedge funds have recently made changes to their positions in PLYM. F M Investments LLC bought a new position in shares of Plymouth Industrial REIT in the second quarter valued at approximately $6,088,000. Millennium Management LLC raised its position in Plymouth Industrial REIT by 115.6% in the 2nd quarter. Millennium Management LLC now owns 338,894 shares of the company’s stock valued at $7,246,000 after purchasing an additional 181,725 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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. Jennison Associates LLC grew its holdings in shares of Plymouth Industrial REIT by 4.1% during the third quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock worth $99,471,000 after purchasing an additional 174,836 shares during the last quarter. Finally, Foundry Partners LLC acquired a new stake in shares of Plymouth Industrial REIT in the third quarter valued at $3,725,000. Institutional investors and hedge funds 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.