Plymouth Industrial REIT, Inc. (NYSE:PLYM) Short Interest Down 19.0% in September

Plymouth Industrial REIT, Inc. (NYSE:PLYM) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 416,100 shares, a decrease of 19.0% from the August 31st total of 513,700 shares. Based on an average daily trading volume, of 279,100 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analyst Weigh In

Several analysts have weighed in on PLYM shares. JPMorgan Chase & Co. lowered their price objective on Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. B. Riley increased their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Barclays boosted their price objective on shares of Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. JMP Securities reiterated a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. Finally, Truist Financial boosted their price target on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.57.

Insiders Place Their Bets

In other Plymouth Industrial REIT news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $23.58, for a total value of $13,285,868.04. Following the completion of the sale, the insider now directly owns 4,474,292 shares of the company’s stock, valued at $105,503,805.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Westwood Holdings Group Inc. grew its stake in Plymouth Industrial REIT by 10.8% in the first quarter. Westwood Holdings Group Inc. now owns 2,935,803 shares of the company’s stock worth $66,056,000 after purchasing an additional 286,434 shares during the period. F M Investments LLC bought a new position in shares of Plymouth Industrial REIT in the 2nd quarter worth about $6,088,000. Jennison Associates LLC lifted its position in Plymouth Industrial REIT by 5.9% during the 1st quarter. Jennison Associates LLC now owns 4,183,540 shares of the company’s stock valued at $94,130,000 after acquiring an additional 234,536 shares during the period. Millennium Management LLC boosted its stake in Plymouth Industrial REIT by 115.6% during the second quarter. Millennium Management LLC now owns 338,894 shares of the company’s stock worth $7,246,000 after acquiring an additional 181,725 shares in the last quarter. Finally, Heritage Wealth Advisors grew its holdings in Plymouth Industrial REIT by 530.6% in the first quarter. Heritage Wealth Advisors now owns 208,730 shares of the company’s stock worth $4,696,000 after purchasing an additional 175,630 shares during the period. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Trading Up 0.3 %

Shares of PLYM traded up $0.07 during trading hours on Friday, reaching $22.84. 246,338 shares of the company traded hands, compared to its average volume of 327,632. Plymouth Industrial REIT has a 12 month low of $19.21 and a 12 month high of $25.55. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 53.12, a price-to-earnings-growth ratio of 1.72 and a beta of 1.36. The company’s fifty day moving average price is $23.50 and its two-hundred day moving average price is $22.08. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.49.

Plymouth Industrial REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.20%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 223.26%.

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.