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

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

Wall Street Analyst Weigh In

Several analysts have recently commented on PLYM shares. BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price for the company. in a research note on Friday, November 8th. BMO Capital Markets reduced their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Wednesday, August 28th. Barclays reduced their target price on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Truist Financial reduced their target price 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. Finally, 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 Wednesday, August 28th. One investment 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 stock presently has an average rating of “Hold” and a consensus price target of $24.33.

Plymouth Industrial REIT Price Performance

The firm has a market cap of $810.65 million, a price-to-earnings ratio of 893.00, a P/E/G ratio of 1.47 and a beta of 1.34. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. The business has a 50 day simple moving average of $19.84 and a 200-day simple moving average of $21.68.

Plymouth Industrial REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.24 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 dividend on an annualized basis and a yield of 5.38%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 4,800.00%.

Insider Buying and Selling at Plymouth Industrial REIT

In related news, CEO Jeffrey E. Witherell purchased 2,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $18.49 per share, with a total value of $36,980.00. Following the purchase, the chief executive officer now directly owns 252,248 shares in the company, valued at approximately $4,664,065.52. This represents a 0.80 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Pendleton P. Jr. White purchased 5,000 shares of the business’s 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 purchase, the director now owns 5,000 shares in the company, valued at approximately $91,950. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of hedge funds have recently made changes to their positions in the business. Tidal Investments LLC lifted its holdings in shares of Plymouth Industrial REIT by 7.4% in the 3rd quarter. Tidal Investments LLC now owns 23,433 shares of the company’s stock worth $530,000 after acquiring an additional 1,614 shares during the last quarter. Barclays PLC lifted its holdings in shares of Plymouth Industrial REIT by 321.2% in the 3rd quarter. Barclays PLC now owns 63,101 shares of the company’s stock worth $1,426,000 after acquiring an additional 48,119 shares during the last quarter. Geode Capital Management LLC raised its holdings in Plymouth Industrial REIT by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock valued at $23,685,000 after buying an additional 29,924 shares during the last quarter. Nomura Asset Management Co. Ltd. raised 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 buying an additional 900 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its holdings in Plymouth Industrial REIT by 7.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 32,352 shares of the company’s stock valued at $731,000 after buying an additional 2,110 shares during 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.