Plymouth Industrial REIT (NYSE:PLYM) Reaches New 52-Week Low – Here’s Why

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

Analysts Set New Price Targets

A number of analysts have issued reports on PLYM shares. 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 note on Friday, November 8th. JPMorgan Chase & Co. decreased their price target on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. JMP Securities reissued a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Barclays cut 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. Finally, Robert W. Baird lowered their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.89.

Plymouth Industrial REIT Stock Down 0.5 %

The firm’s 50-day moving average price is $17.26 and its 200-day moving average price is $20.06. The company has a market cap of $746.35 million, a price-to-earnings ratio of 822.15 and a beta of 1.33. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend was Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 4,800.00%.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC lifted its position in Plymouth Industrial REIT by 4.1% during the 3rd quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock worth $99,471,000 after acquiring an additional 174,836 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Plymouth Industrial REIT by 33.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company’s stock valued at $64,634,000 after purchasing an additional 901,251 shares during the period. State Street Corp boosted its stake in shares of Plymouth Industrial REIT by 1.4% in the third quarter. State Street Corp now owns 1,223,747 shares of the company’s stock valued at $27,949,000 after purchasing an additional 16,398 shares during the period. Geode Capital Management LLC boosted its stake in shares of Plymouth Industrial REIT by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock valued at $23,685,000 after purchasing an additional 29,924 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Plymouth Industrial REIT by 24.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock valued at $20,583,000 after purchasing an additional 180,003 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

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.