Plymouth Industrial REIT (NYSE:PLYM) Reaches New 12-Month Low - Here's Why

Plymouth Industrial REIT, Inc. (NYSE:PLYM - Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.06 and last traded at $16.48, with a volume of 28151 shares changing hands. The stock had previously closed at $16.62.

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of 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. Barclays reduced their price target on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Monday, November 18th. JMP Securities reaffirmed 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. BNP Paribas cut Plymouth Industrial REIT from an "outperform" rating to a "neutral" rating and set a $23.00 target price for the company. in a research note on Friday, November 8th. Finally, Robert W. Baird cut their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set an "outperform" rating for the company in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $23.89.

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Plymouth Industrial REIT Stock Down 0.2 %

The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $785.68 million, a PE ratio of 865.50 and a beta of 1.33. The business has a 50-day moving average of $16.95 and a 200 day moving average of $19.64.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a $0.24 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.96 annualized dividend and a yield of 5.55%. Plymouth Industrial REIT's dividend payout ratio (DPR) is currently 31.37%.

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of institutional investors have recently modified their holdings of PLYM. Thrivent Financial for Lutherans raised its position in shares of Plymouth Industrial REIT by 6.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 455,092 shares of the company's stock valued at $10,285,000 after buying an additional 27,463 shares during the period. Barclays PLC raised its holdings in shares of Plymouth Industrial REIT by 321.2% in the third quarter. Barclays PLC now owns 63,101 shares of the company's stock valued at $1,426,000 after buying an additional 48,119 shares during the last quarter. Foundry Partners LLC purchased a new position in Plymouth Industrial REIT during the third quarter worth about $3,725,000. Geode Capital Management LLC grew its position in shares of Plymouth Industrial REIT by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company's stock valued at $23,685,000 after purchasing an additional 29,924 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Plymouth Industrial REIT by 137.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,201 shares of the company's stock worth $1,519,000 after acquiring an additional 38,850 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

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.