Plymouth Industrial REIT (NYSE:PLYM) Sets New 12-Month Low - Time to Sell?

Plymouth Industrial REIT, Inc. (NYSE:PLYM - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $15.57 and last traded at $15.61, with a volume of 27109 shares traded. The stock had previously closed at $16.32.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PLYM shares. Truist Financial cut their price target on Plymouth Industrial REIT from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Monday, March 24th. KeyCorp lowered their target price on Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating on the stock in a report on Tuesday. JMP Securities reaffirmed a "market outperform" rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Barclays cut their target price on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. cut their target price 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Plymouth Industrial REIT currently has an average rating of "Hold" and a consensus price target of $21.20.

Plymouth Industrial REIT Stock Down 3.6 %

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 company has a market capitalization of $612.71 million, a P/E ratio of 672.55 and a beta of 1.19. The firm's fifty day moving average is $16.67 and its 200-day moving average is $18.44.

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Plymouth Industrial REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 7.14%. The ex-dividend date is Monday, March 31st. Plymouth Industrial REIT's payout ratio is 31.37%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PLYM. Quarry LP grew its position 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 purchasing an additional 860 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Plymouth Industrial REIT in the third quarter worth approximately $46,000. Quadrant Capital Group LLC increased its position in shares of 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 acquiring an additional 844 shares during the period. GAMMA Investing LLC lifted its holdings in Plymouth Industrial REIT by 6,862.5% in the 1st quarter. GAMMA Investing LLC now owns 3,342 shares of the company's stock worth $54,000 after buying an additional 3,294 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in Plymouth Industrial REIT in the fourth quarter valued at $148,000. 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.