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

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

Plymouth Industrial REIT Trading Up 2.3 %

Shares of NYSE:PLYM traded up $0.38 during mid-day trading on Monday, hitting $17.34. The company had a trading volume of 457,092 shares, compared to its average volume of 280,503. The firm has a fifty day moving average price of $16.80 and a 200 day moving average price of $19.15. The company has a market capitalization of $789.95 million, a PE ratio of 867.10 and a beta of 1.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. Plymouth Industrial REIT has a one year low of $16.06 and a one year high of $24.71.

Plymouth Industrial REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.54%. Plymouth Industrial REIT’s dividend payout ratio is currently 31.37%.

Institutional Trading of Plymouth Industrial REIT

Several hedge funds have recently modified their holdings of PLYM. Quarry LP increased its stake 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 in the last quarter. Loomis Sayles & Co. L P boosted its holdings in Plymouth Industrial REIT by 3,130.6% during the 3rd 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 last quarter. Point72 DIFC Ltd purchased a new position in Plymouth Industrial REIT during the 3rd quarter worth $46,000. Quadrant Capital Group LLC boosted its holdings in Plymouth Industrial REIT by 38.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock worth $54,000 after acquiring an additional 844 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Plymouth Industrial REIT during the 3rd quarter worth $123,000. Institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on PLYM shares. Barclays decreased their target price 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. 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 report on Tuesday, January 14th. Robert W. Baird reduced their price target on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Truist Financial cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Finally, Wedbush set a $17.00 price target on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Plymouth Industrial REIT has an average rating of “Hold” and an average price target of $22.44.

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.