Plymouth Industrial REIT, Inc. (NYSE:PLYM) Short Interest Down 48.1% in January

Plymouth Industrial REIT, Inc. (NYSE:PLYM - Get Free Report) saw a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 856,500 shares, a drop of 48.1% from the December 31st total of 1,650,000 shares. Based on an average trading volume of 351,500 shares, the days-to-cover ratio is presently 2.4 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PLYM shares. Robert W. Baird dropped 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. BNP Paribas cut Plymouth Industrial REIT from an "outperform" rating to a "neutral" rating and set a $23.00 price objective for the company. in a research report on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on 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. Barclays dropped their price objective on Plymouth Industrial REIT from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Monday, November 18th. Finally, JMP Securities restated a "market outperform" rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $23.89.

Insider Buying and Selling at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, CEO Jeffrey E. Witherell bought 2,000 shares of Plymouth Industrial REIT stock in a transaction on Friday, November 15th. The stock was bought at an average price of $18.49 per share, with a total value of $36,980.00. Following the completion of the acquisition, the chief executive officer now owns 252,248 shares in the company, valued at $4,664,065.52. The trade was a 0.80 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Pendleton P. Jr. White purchased 5,000 shares of the company's stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $18.39 per share, with a total value of $91,950.00. Following the transaction, the director now owns 5,000 shares of the company's stock, valued at approximately $91,950. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Plymouth Industrial REIT

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. State Street Corp lifted its position in Plymouth Industrial REIT by 1.4% during the 3rd quarter. State Street Corp now owns 1,223,747 shares of the company's stock worth $27,949,000 after acquiring an additional 16,398 shares in the last quarter. Geode Capital Management LLC lifted its position in Plymouth Industrial REIT by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company's stock worth $23,685,000 after acquiring an additional 29,924 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Plymouth Industrial REIT by 24.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company's stock worth $20,583,000 after acquiring an additional 180,003 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Plymouth Industrial REIT by 8.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 890,653 shares of the company's stock valued at $20,129,000 after purchasing an additional 66,886 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Plymouth Industrial REIT Trading Up 0.0 %

Shares of NYSE PLYM traded up $0.00 during midday trading on Monday, hitting $16.80. The stock had a trading volume of 296,174 shares, compared to its average volume of 334,651. The company has a market capitalization of $762.73 million, a price-to-earnings ratio of 840.20 and a beta of 1.33. Plymouth Industrial REIT has a 1-year low of $16.33 and a 1-year high of $24.71. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The company has a fifty day moving average price of $17.77 and a 200 day moving average price of $20.69.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.71%. The ex-dividend date of this dividend was Tuesday, December 31st. Plymouth Industrial REIT's dividend payout ratio is currently 4,800.00%.

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.