Plymouth Industrial REIT, Inc. (NYSE:PLYM) Short Interest Down 31.6% in February

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

Plymouth Industrial REIT Stock Performance

PLYM opened at $16.94 on Friday. The stock has a market cap of $771.59 million, a PE ratio of 846.95 and a beta of 1.45. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. Plymouth Industrial REIT has a 1 year low of $16.06 and a 1 year high of $24.71. The stock’s 50 day simple moving average is $16.80 and its 200-day simple moving average is $19.23.

Plymouth Industrial REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio is presently 31.37%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. JMP Securities reissued a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Barclays decreased their price objective on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Truist Financial lowered Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Wedbush set a $17.00 price objective on Plymouth Industrial REIT in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. decreased their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.44.

Institutional Trading of Plymouth Industrial REIT

A number of large investors have recently bought and sold shares of PLYM. Westwood Holdings Group Inc. grew its position in Plymouth Industrial REIT by 33.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company’s stock valued at $64,634,000 after acquiring an additional 901,251 shares during the period. Mesirow Institutional Investment Management Inc. acquired a new position in Plymouth Industrial REIT in the fourth quarter worth $10,433,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Plymouth Industrial REIT during the fourth quarter valued at $9,612,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of Plymouth Industrial REIT during the fourth quarter valued at $7,443,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Plymouth Industrial REIT by 24.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock valued at $20,583,000 after acquiring an additional 180,003 shares during the period. 92.67% of the stock is currently owned by institutional investors.

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.