Plymouth Industrial REIT (NYSE:PLYM) Reaches New 12-Month Low - What's Next?

Plymouth Industrial REIT, Inc. (NYSE:PLYM - Get Free Report)'s share price reached a new 52-week low on Monday . The stock traded as low as $16.25 and last traded at $16.39, with a volume of 8682 shares changing hands. The stock had previously closed at $16.35.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Robert W. Baird dropped their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an "outperform" rating for the company in a report on Tuesday, November 12th. BNP Paribas lowered Plymouth Industrial REIT from an "outperform" rating to a "neutral" rating and set a $23.00 price target for the company. in a research note on Friday, November 8th. JPMorgan Chase & Co. reduced their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 14th. JMP Securities restated a "market outperform" rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $23.89.

Plymouth Industrial REIT Trading Up 1.4 %

The stock has a market cap of $751.11 million, a PE ratio of 827.40 and a beta of 1.33. The firm has a 50-day moving average price of $17.43 and a 200-day moving average price of $20.30. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12.

Plymouth Industrial REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date was Tuesday, December 31st. Plymouth Industrial REIT's dividend payout ratio (DPR) is 4,800.00%.

Insider Buying and Selling at Plymouth Industrial REIT

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

Hedge Funds Weigh In On Plymouth Industrial REIT

Several institutional investors have recently made changes to their positions in the business. Thompson Siegel & Walmsley LLC purchased a new stake in Plymouth Industrial REIT during the fourth quarter valued at approximately $7,443,000. Charles Schwab Investment Management Inc. increased its stake in shares of Plymouth Industrial REIT by 24.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company's stock worth $20,583,000 after purchasing an additional 180,003 shares in the last quarter. Jennison Associates LLC raised its holdings in Plymouth Industrial REIT by 4.1% in the 3rd quarter. Jennison Associates LLC now owns 4,401,384 shares of the company's stock worth $99,471,000 after purchasing an additional 174,836 shares during the period. Foundry Partners LLC purchased a new position in Plymouth Industrial REIT during the third quarter valued at $3,725,000. Finally, Heartland Advisors Inc. grew its holdings in Plymouth Industrial REIT by 75.5% during the fourth quarter. Heartland Advisors Inc. now owns 351,000 shares of the company's stock valued at $6,248,000 after purchasing an additional 151,000 shares during the period. Institutional investors own 92.67% of the company's stock.

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.