Plymouth Industrial REIT, Inc. (NYSE:PLYM) Short Interest Update

Plymouth Industrial REIT, Inc. (NYSE:PLYM - Get Free Report) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 805,500 shares, a growth of 68.6% from the February 28th total of 477,800 shares. Currently, 1.8% of the company's stock are sold short. Based on an average trading volume of 356,400 shares, the days-to-cover ratio is presently 2.3 days.

Plymouth Industrial REIT Stock Performance

NYSE:PLYM traded down $0.01 during midday trading on Wednesday, hitting $16.30. The company's stock had a trading volume of 60,838 shares, compared to its average volume of 294,003. 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 has a fifty-two week low of $16.06 and a fifty-two week high of $24.71. The firm's 50 day moving average is $16.81 and its 200-day moving average is $18.66. The firm has a market cap of $742.48 million, a P/E ratio of 815.00 and a beta of 1.45.

Plymouth Industrial REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.89%. Plymouth Industrial REIT's dividend payout ratio (DPR) is presently 31.37%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP raised its stake in shares of 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 buying an additional 860 shares during the last quarter. Loomis Sayles & Co. L P raised its position in 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 Plymouth Industrial REIT in the third quarter valued at approximately $46,000. Quadrant Capital Group LLC boosted its position in 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 shares of Plymouth Industrial REIT during the 3rd quarter worth approximately $123,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JMP Securities restated 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. JPMorgan Chase & Co. decreased their price target on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an "underweight" rating for the company in a research report on Tuesday, January 14th. Truist Financial cut their price objective on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a "hold" rating on the stock in a research report on Monday, March 24th. Robert W. Baird decreased their target price on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Finally, Barclays cut their price target on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating on the stock in a report on Monday. One research 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $21.56.

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.