Plymouth Industrial REIT (NYSE:PLYM) Hits New 1-Year Low – Here’s Why

Plymouth Industrial REIT, Inc. (NYSE:PLYM)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $16.06 and last traded at $16.48, with a volume of 28151 shares traded. The stock had previously closed at $16.62.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. BNP Paribas lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research report on Friday, November 8th. Truist Financial downgraded Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Barclays reduced their price target on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Finally, Robert W. Baird dropped their price objective 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. One 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. According to data from MarketBeat.com, Plymouth Industrial REIT has a consensus rating of “Hold” and an average target price of $23.89.

Plymouth Industrial REIT Stock Performance

The company has a market cap of $761.67 million, a PE ratio of 839.00 and a beta of 1.33. The stock’s 50 day simple moving average is $16.99 and its two-hundred day simple moving average is $19.80. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date was Tuesday, December 31st. Plymouth Industrial REIT’s payout ratio is currently 4,800.00%.

Hedge Funds Weigh In On Plymouth Industrial REIT

Institutional investors and hedge funds have recently bought and sold shares of the business. Jennison Associates LLC lifted its holdings in Plymouth Industrial REIT by 4.1% in the 3rd quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock worth $99,471,000 after purchasing an additional 174,836 shares during the last quarter. Westwood Holdings Group Inc. increased its position in Plymouth Industrial REIT by 33.0% in the 4th 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 in the last quarter. State Street Corp raised its holdings in Plymouth Industrial REIT by 1.4% during the 3rd quarter. State Street Corp now owns 1,223,747 shares of the company’s stock worth $27,949,000 after purchasing an additional 16,398 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Plymouth Industrial REIT by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock worth $23,685,000 after buying an additional 29,924 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Plymouth Industrial REIT by 24.6% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.