Plymouth Industrial REIT (NYSE:PLYM) Reaches New 52-Week Low – What’s Next?

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $16.20 and last traded at $16.29, with a volume of 94891 shares changing hands. The stock had previously closed at $16.53.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PLYM. Barclays dropped their price target on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Robert W. Baird decreased their price target 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. BNP Paribas lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price on the stock. in a research note on Friday, November 8th. JMP Securities reissued a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reduced their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $23.89.

Plymouth Industrial REIT Stock Down 0.8 %

The firm’s 50 day simple moving average is $17.12 and its 200 day simple moving average is $19.97. The company has a market cap of $745.97 million, a price-to-earnings ratio of 821.75 and a beta of 1.33. 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 company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.84%. Plymouth Industrial REIT’s payout ratio is currently 4,800.00%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quarry LP increased its stake in shares of Plymouth Industrial REIT by 88.4% during the third quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after acquiring an additional 860 shares during the period. Loomis Sayles & Co. L P increased its stake 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 acquiring an additional 1,941 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Plymouth Industrial REIT during the third quarter valued at approximately $46,000. Quadrant Capital Group LLC increased its stake in shares of Plymouth Industrial REIT by 38.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock valued at $54,000 after acquiring an additional 844 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Plymouth Industrial REIT during the third quarter valued at approximately $123,000. Institutional investors and hedge funds 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.