Plymouth Industrial REIT (NYSE:PLYM) Sets New 12-Month Low on Analyst Downgrade

Plymouth Industrial REIT, Inc. (NYSE:PLYM)’s share price hit 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.

A number of other analysts have also recently commented on PLYM. BNP Paribas cut shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research note on Friday, November 8th. B. Riley upped their target price on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Wedbush upped their target price 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 target price on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. Finally, Truist Financial lifted their price target on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $25.22.

Insider Activity

In related 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 shares were sold at an average price of $23.58, for a total value of $13,285,868.04. Following the transaction, the insider now directly owns 4,474,292 shares of the company’s stock, valued at $105,503,805.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Plymouth Industrial REIT

Several institutional investors and hedge funds have recently bought and sold shares of PLYM. Swiss National Bank increased its position in Plymouth Industrial REIT by 2.4% during the 1st quarter. Swiss National Bank now owns 80,400 shares of the company’s stock valued at $1,809,000 after purchasing an additional 1,900 shares during the period. Russell Investments Group Ltd. raised its stake in Plymouth Industrial REIT by 4.4% in the first quarter. Russell Investments Group Ltd. now owns 192,851 shares of the company’s stock worth $4,339,000 after buying an additional 8,187 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Plymouth Industrial REIT by 2.8% in the first quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock worth $95,943,000 after buying an additional 115,318 shares during the period. American International Group Inc. boosted its position in Plymouth Industrial REIT by 2.5% during the 1st quarter. American International Group Inc. now owns 22,508 shares of the company’s stock valued at $506,000 after acquiring an additional 544 shares in the last quarter. Finally, EntryPoint Capital LLC grew its holdings in shares of Plymouth Industrial REIT by 33.9% during the 1st quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock worth $112,000 after acquiring an additional 1,266 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Price Performance

The stock has a market cap of $892.03 million, a P/E ratio of 1,043.00, a price-to-earnings-growth ratio of 1.62 and a beta of 1.37. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a 50-day moving average price of $21.88 and a 200-day moving average price of $22.03.

Plymouth Industrial REIT Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 4.89%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 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.