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

Plymouth Industrial REIT, Inc. (NYSE:PLYM - Get Free Report) was the target of a large 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. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily volume of 345,600 shares, the short-interest ratio is presently 1.4 days.

Plymouth Industrial REIT Trading Up 0.5 %

PLYM stock traded up $0.09 during mid-day trading on Wednesday, reaching $17.53. The company's stock had a trading volume of 207,649 shares, compared to its average volume of 355,055. Plymouth Industrial REIT has a 12 month low of $16.06 and a 12 month high of $24.71. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. The business's 50 day moving average price is $16.81 and its 200 day moving average price is $19.10. The company has a market cap of $798.28 million, a price-to-earnings ratio of 876.25 and a beta of 1.45.

Plymouth Industrial REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.48%. The ex-dividend date of this dividend is Monday, March 31st. Plymouth Industrial REIT's dividend payout ratio is presently 31.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PLYM shares. JMP Securities reiterated a "market outperform" rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Wedbush set a $17.00 target price on Plymouth Industrial REIT in a research report on Friday, February 28th. Robert W. Baird cut their price target on Plymouth Industrial REIT from $21.00 to $20.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an "underweight" rating for the company in a research note on Tuesday, January 14th. Finally, Truist Financial downgraded shares of Plymouth Industrial REIT from a "buy" rating to a "hold" rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $22.44.

Remove Ads

Institutional Investors Weigh In On Plymouth Industrial REIT

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP grew its stake in shares of Plymouth Industrial REIT by 88.4% in the 3rd quarter. Quarry LP now owns 1,833 shares of the company's stock valued at $41,000 after buying an additional 860 shares during the period. Loomis Sayles & Co. L P increased its holdings in shares of Plymouth Industrial REIT by 3,130.6% during the third 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 in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Plymouth Industrial REIT during the third quarter worth approximately $46,000. Quadrant Capital Group LLC lifted its holdings in shares of Plymouth Industrial REIT by 38.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company's stock worth $54,000 after purchasing an additional 844 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Plymouth Industrial REIT in the 3rd quarter valued at $123,000. 92.67% of the stock is owned by institutional investors.

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.