Plymouth Industrial REIT, Inc. (NYSE:PLYM) Short Interest Update

Plymouth Industrial REIT, Inc. (NYSE:PLYM) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totalling 856,500 shares, a decline of 48.1% from the December 31st total of 1,650,000 shares. Based on an average daily trading volume, of 351,500 shares, the days-to-cover ratio is presently 2.4 days.

Insider Activity

In other news, Director Pendleton P. Jr. White bought 5,000 shares of Plymouth Industrial REIT stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $18.39 per share, with a total value of $91,950.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $91,950. The trade was a ∞ 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, CEO Jeffrey E. Witherell bought 2,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $18.49 per share, for a total transaction of $36,980.00. Following the transaction, the chief executive officer now owns 252,248 shares of the company’s stock, valued at approximately $4,664,065.52. This represents a 0.80 % 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 Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PLYM. Quarry LP grew its holdings in shares of Plymouth Industrial REIT by 88.4% in the third quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after purchasing an additional 860 shares in the last quarter. Copeland Capital Management LLC acquired a new position in shares of Plymouth Industrial REIT in the third quarter worth $43,000. Loomis Sayles & Co. L P increased its position 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 worth $45,000 after acquiring an additional 1,941 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Plymouth Industrial REIT during the third quarter worth $46,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Plymouth Industrial REIT in the third quarter valued at $123,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. Truist Financial downgraded shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Robert W. Baird lowered their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. JPMorgan Chase & Co. cut their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Finally, BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $23.89.

Plymouth Industrial REIT Trading Up 0.4 %

Shares of PLYM traded up $0.07 during trading on Thursday, reaching $16.70. 109,598 shares of the company traded hands, compared to its average volume of 320,457. The stock has a 50-day simple moving average of $17.85 and a 200-day simple moving average of $20.80. The stock has a market cap of $757.77 million, a PE ratio of 835.75 and a beta of 1.34. Plymouth Industrial REIT has a twelve month low of $16.37 and a twelve month high of $24.71. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42.

Plymouth Industrial REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.96 annualized dividend and a yield of 5.75%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 4,800.00%.

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.