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

Plymouth Industrial REIT, Inc. (NYSE:PLYM - Get Free Report) shares reached a new 52-week low on Monday . The stock traded as low as $16.33 and last traded at $16.61, with a volume of 15252 shares changing hands. The stock had previously closed at $16.80.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PLYM shares. JMP Securities reissued a "market outperform" rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. JPMorgan Chase & Co. cut their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an "underweight" rating on the stock in a report on Tuesday, January 14th. BNP Paribas downgraded Plymouth Industrial REIT from an "outperform" rating to a "neutral" rating and set a $23.00 price objective for the company. in a report on Friday, November 8th. Barclays cut their target price on Plymouth Industrial REIT from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Monday, November 18th. Finally, Robert W. Baird lowered their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an "outperform" rating on the stock in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $23.89.

Plymouth Industrial REIT Price Performance

The stock has a market cap of $758.56 million, a P/E ratio of 835.60 and a beta of 1.33. 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 business has a 50 day simple moving average of $17.65 and a 200-day simple moving average of $20.56.

Plymouth Industrial REIT Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 5.74%. The ex-dividend date was Tuesday, December 31st. Plymouth Industrial REIT's dividend payout ratio 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 company's stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of $18.49 per share, with a total value of $36,980.00. Following the transaction, the chief executive officer now directly owns 252,248 shares of the company's stock, valued at approximately $4,664,065.52. This represents a 0.80 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pendleton P. Jr. White acquired 5,000 shares of the firm'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 owns 5,000 shares in the company, valued at $91,950. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company's stock.

Institutional Trading of Plymouth Industrial REIT

A number of institutional investors have recently modified their holdings of PLYM. Quarry LP raised its holdings in 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 acquiring an additional 860 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Plymouth Industrial REIT by 1.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company's stock worth $1,064,000 after purchasing an additional 900 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Plymouth Industrial REIT by 2.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company's stock worth $736,000 after purchasing an additional 952 shares during the period. Rhumbline Advisers grew its holdings in Plymouth Industrial REIT by 1.4% during the 4th quarter. Rhumbline Advisers now owns 73,529 shares of the company's stock valued at $1,309,000 after buying an additional 1,010 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Plymouth Industrial REIT by 11.4% during the third quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company's stock valued at $290,000 after buying an additional 1,317 shares during the period. 92.67% of the stock is currently owned by hedge funds and other 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.