Plymouth Industrial REIT, Inc. (NYSE:PLYM) Sees Significant Decrease in Short Interest

Plymouth Industrial REIT, Inc. (NYSE:PLYM - Get Free Report) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totalling 511,900 shares, a decline of 56.2% from the September 30th total of 1,170,000 shares. Based on an average daily trading volume, of 269,500 shares, the days-to-cover ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

PLYM has been the topic of several research reports. BMO Capital Markets lowered their price target 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. B. Riley boosted their price target on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a "buy" rating in a report on Monday, August 5th. Truist Financial increased their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a "buy" rating in a research note on Wednesday, August 28th. JMP Securities reissued a "market outperform" rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. Finally, Wedbush raised their price target on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $25.57.

Insider Activity at Plymouth Industrial REIT

In other news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $23.58, for a total value of $13,285,868.04. Following the completion of the transaction, the insider now owns 4,474,292 shares in the company, valued at $105,503,805.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company's stock.

Institutional Trading of Plymouth Industrial REIT

Several hedge funds have recently bought and sold shares of PLYM. B. Riley Wealth Advisors Inc. grew its position in Plymouth Industrial REIT by 2.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 22,192 shares of the company's stock valued at $470,000 after buying an additional 490 shares in the last quarter. American International Group Inc. increased its position in shares of Plymouth Industrial REIT by 2.5% during the 1st quarter. American International Group Inc. now owns 22,508 shares of the company's stock valued at $506,000 after purchasing an additional 544 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Plymouth Industrial REIT by 1.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 42,914 shares of the company's stock worth $966,000 after buying an additional 578 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Plymouth Industrial REIT by 4.0% in the first quarter. State of Alaska Department of Revenue now owns 21,590 shares of the company's stock valued at $484,000 after buying an additional 832 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in Plymouth Industrial REIT by 8.6% during the first quarter. Daiwa Securities Group Inc. now owns 11,838 shares of the company's stock valued at $266,000 after buying an additional 939 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Plymouth Industrial REIT Stock Performance

PLYM traded down $0.36 on Friday, hitting $20.74. 249,399 shares of the company's stock were exchanged, compared to its average volume of 243,604. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49. The stock has a fifty day moving average of $22.63 and a two-hundred day moving average of $22.04. Plymouth Industrial REIT has a twelve month low of $19.21 and a twelve month high of $25.55. The firm has a market cap of $941.22 million, a PE ratio of 48.23, a P/E/G ratio of 1.59 and a beta of 1.36.

Plymouth Industrial REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Monday, September 30th. Plymouth Industrial REIT's dividend payout ratio (DPR) is 223.26%.

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.

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