Plymouth Industrial REIT, Inc. (NYSE:PLYM) Short Interest Down 16.0% in February

Plymouth Industrial REIT, Inc. (NYSE:PLYM - Get Free Report) was the recipient of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 699,000 shares, a decrease of 16.0% from the January 31st total of 832,000 shares. Based on an average daily trading volume, of 323,800 shares, the days-to-cover ratio is currently 2.2 days.

Plymouth Industrial REIT Trading Up 1.8 %

Plymouth Industrial REIT stock traded up $0.31 during midday trading on Friday, reaching $17.06. The stock had a trading volume of 330,194 shares, compared to its average volume of 340,282. Plymouth Industrial REIT has a twelve month low of $16.06 and a twelve month high of $24.71. The stock has a market capitalization of $774.11 million, a PE ratio of 852.75 and a beta of 1.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. The stock's 50-day simple moving average is $16.89 and its 200 day simple moving average is $19.46.

Plymouth Industrial REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date was Tuesday, December 31st. Plymouth Industrial REIT's payout ratio is currently 31.37%.

Analysts Set New Price Targets

A number of brokerages have commented on PLYM. Truist Financial cut Plymouth Industrial REIT from a "buy" rating to a "hold" rating in a report on Friday, January 17th. Barclays decreased their price objective on Plymouth Industrial REIT from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Monday, November 18th. JMP Securities restated a "market outperform" rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Robert W. Baird decreased their price objective on Plymouth Industrial REIT from $21.00 to $20.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an "underweight" rating on the stock in a report on Tuesday, January 14th. 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, the stock has an average rating of "Hold" and a consensus price target of $23.33.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. boosted its holdings in Plymouth Industrial REIT by 4.3% in the fourth quarter. Pinebridge Investments L.P. now owns 18,688 shares of the company's stock valued at $333,000 after acquiring an additional 773 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Plymouth Industrial REIT by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company's stock valued at $406,000 after purchasing an additional 817 shares during the period. Quadrant Capital Group LLC raised its position in Plymouth Industrial REIT by 38.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company's stock valued at $54,000 after purchasing an additional 844 shares during the period. Quarry LP raised its position in Plymouth Industrial REIT by 88.4% in the third quarter. Quarry LP now owns 1,833 shares of the company's stock valued at $41,000 after purchasing an additional 860 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its position in Plymouth Industrial REIT by 1.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company's stock valued at $1,064,000 after purchasing an additional 900 shares during the period. 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.