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

Plymouth Industrial REIT, Inc. (NYSE:PLYM)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $18.04 and last traded at $18.13, with a volume of 311763 shares changing hands. The stock had previously closed at $19.10.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PLYM shares. Robert W. Baird lowered their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Barclays lowered their price target on shares of 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. JMP Securities reiterated a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. BMO Capital Markets reduced their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 28th. Finally, Truist Financial reduced their price objective on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Plymouth Industrial REIT presently has an average rating of “Hold” and a consensus target price of $24.33.

Plymouth Industrial REIT Stock Down 6.5 %

The stock’s 50-day moving average price is $19.84 and its two-hundred day moving average price is $21.68. The stock has a market capitalization of $810.65 million, a PE ratio of 893.00, a P/E/G ratio of 1.47 and a beta of 1.34. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12.

Plymouth Industrial REIT Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date is Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio is presently 4,800.00%.

Insider Transactions at Plymouth Industrial REIT

In other news, Director Pendleton P. Jr. White acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $18.39 per share, with a total value of $91,950.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $91,950. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey E. Witherell acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the completion of the transaction, the chief executive officer now directly owns 252,248 shares in the company, 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. Insiders own 1.40% of the company’s stock.

Institutional Trading of Plymouth Industrial REIT

Institutional investors have recently bought and sold shares of the company. Quarry LP lifted 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 acquiring an additional 860 shares during the period. Copeland Capital Management LLC bought a new position in Plymouth Industrial REIT during the 3rd quarter valued at about $43,000. Loomis Sayles & Co. L P lifted its stake 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 valued at $45,000 after acquiring an additional 1,941 shares during the period. Point72 DIFC Ltd bought a new position in Plymouth Industrial REIT during the 3rd quarter valued at about $46,000. Finally, Point72 Hong Kong Ltd bought a new position in Plymouth Industrial REIT during the 3rd quarter valued at about $123,000. 92.67% of the stock is owned by hedge funds and other 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.