Plymouth Industrial REIT (NYSE:PLYM) Reaches New 52-Week Low Following Analyst Downgrade

Plymouth Industrial REIT, Inc. (NYSE:PLYM)’s share price reached a new 52-week low during trading on Monday after Barclays lowered their price target on the stock from $25.00 to $22.00. Barclays currently has an equal weight rating on the stock. Plymouth Industrial REIT traded as low as $18.21 and last traded at $18.21, with a volume of 4603 shares traded. The stock had previously closed at $18.38.

Several other equities research analysts also recently issued reports on the stock. B. Riley boosted their price objective on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Robert W. Baird cut their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Wedbush upped their target price on Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. BNP Paribas cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target for the company. in a report on Friday, November 8th. Finally, Truist Financial boosted their target price 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 investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Plymouth Industrial REIT currently has an average rating of “Hold” and an average price target of $24.89.

Insider Buying and Selling

In related news, Director Pendleton P. Jr. White acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at $91,950. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey E. Witherell bought 2,000 shares of the stock in a transaction on Friday, November 15th. The shares were bought at an average cost 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 in the company, valued at $4,664,065.52. This trade represents a 0.80 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank boosted its position in shares of 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 in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Plymouth Industrial REIT by 4.4% during the 1st quarter. Russell Investments Group Ltd. now owns 192,851 shares of the company’s stock valued at $4,339,000 after acquiring an additional 8,187 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Plymouth Industrial REIT by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock valued at $95,943,000 after acquiring an additional 115,318 shares during the last quarter. American International Group Inc. boosted its stake in shares of Plymouth Industrial REIT by 2.5% during the 1st quarter. American International Group Inc. now owns 22,508 shares of the company’s stock worth $506,000 after acquiring an additional 544 shares in the last quarter. Finally, EntryPoint Capital LLC increased its stake in Plymouth Industrial REIT by 33.9% in the 1st quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock worth $112,000 after purchasing an additional 1,266 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Plymouth Industrial REIT Price Performance

The stock’s fifty day moving average price is $21.45 and its 200-day moving average price is $21.96. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.16. The firm has a market cap of $833.36 million, a price-to-earnings ratio of 918.00, a price-to-earnings-growth ratio of 1.43 and a beta of 1.37.

Plymouth Industrial REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.23%. The ex-dividend date was Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is currently 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.