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

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) reached a new 52-week low during trading on Friday . The company traded as low as $17.20 and last traded at $17.26, with a volume of 5861 shares trading hands. The stock had previously closed at $17.31.

Analyst Upgrades and Downgrades

PLYM has been the subject of several recent analyst reports. BNP Paribas cut shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research note on Friday, November 8th. Truist Financial decreased their price target on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Barclays dropped 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 note on Monday, November 18th. Finally, Robert W. Baird decreased their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.33.

Plymouth Industrial REIT Price Performance

The stock has a market cap of $784.78 million, a P/E ratio of 864.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.34. The business’s 50 day moving average price is $18.99 and its two-hundred day moving average price is $21.40. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend is Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio is currently 4,800.00%.

Insider Activity

In related news, Director Pendleton P. Jr. White acquired 5,000 shares of Plymouth Industrial REIT stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $18.39 per share, with a total value of $91,950.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $91,950. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey E. Witherell acquired 2,000 shares of the stock in a transaction on Friday, November 15th. The shares were bought 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 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. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP grew its position in Plymouth Industrial REIT by 88.4% during the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after purchasing an additional 860 shares during the last quarter. Copeland Capital Management LLC bought a new position in shares of Plymouth Industrial REIT in the third quarter worth approximately $43,000. Loomis Sayles & Co. L P grew its holdings in shares of Plymouth Industrial REIT by 3,130.6% during the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after buying an additional 1,941 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of Plymouth Industrial REIT during the third quarter valued at approximately $46,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Plymouth Industrial REIT during the third quarter valued at approximately $123,000. 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.