Plymouth Industrial REIT, Inc. (NYSE:PLYM) Short Interest Down 17.1% in May

Plymouth Industrial REIT, Inc. (NYSE:PLYMGet Rating) was the recipient of a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 786,600 shares, a decrease of 17.1% from the May 15th total of 949,300 shares. Based on an average daily trading volume, of 359,100 shares, the days-to-cover ratio is currently 2.2 days.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. NEXT Financial Group Inc raised its position in Plymouth Industrial REIT by 21.0% in the fourth quarter. NEXT Financial Group Inc now owns 2,598 shares of the company’s stock worth $84,000 after acquiring an additional 451 shares during the period. Silvercrest Asset Management Group LLC raised its position in shares of Plymouth Industrial REIT by 0.9% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 58,325 shares of the company’s stock valued at $1,866,000 after purchasing an additional 500 shares during the period. Advisor Group Holdings Inc. raised its position in shares of Plymouth Industrial REIT by 2.2% during the 4th quarter. Advisor Group Holdings Inc. now owns 27,718 shares of the company’s stock valued at $887,000 after purchasing an additional 608 shares during the period. Arizona State Retirement System raised its position in shares of Plymouth Industrial REIT by 9.0% during the 1st quarter. Arizona State Retirement System now owns 8,887 shares of the company’s stock valued at $241,000 after purchasing an additional 734 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Plymouth Industrial REIT by 5.1% during the 4th quarter. State of Alaska Department of Revenue now owns 15,895 shares of the company’s stock valued at $508,000 after purchasing an additional 775 shares during the period. Institutional investors and hedge funds own 86.17% of the company’s stock.

A number of research analysts recently weighed in on the stock. B. Riley lowered their price objective on shares of Plymouth Industrial REIT from $32.00 to $29.00 in a research report on Thursday, May 12th. Truist Financial lowered their price objective on shares of Plymouth Industrial REIT from $30.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday, May 18th. Finally, JMP Securities downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 18th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Plymouth Industrial REIT has a consensus rating of “Buy” and an average price target of $28.33.

PLYM traded down $0.49 during trading on Thursday, hitting $17.84. The company’s stock had a trading volume of 5,796 shares, compared to its average volume of 347,052. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.84. Plymouth Industrial REIT has a one year low of $17.61 and a one year high of $32.37. The firm has a market cap of $715.72 million, a PE ratio of -20.14, a P/E/G ratio of 1.48 and a beta of 1.27. The business’s 50 day simple moving average is $22.06 and its 200-day simple moving average is $26.08.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Thursday, June 30th will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.88 annualized dividend and a yield of 4.93%. Plymouth Industrial REIT’s payout ratio is presently -96.70%.

Plymouth Industrial REIT Company Profile (Get Rating)

Plymouth Industrial REIT, Inc is a vertically integrated and self-managed real estate investment trust focused on the acquisition and operation of single and multi-tenant industrial properties located in secondary and select primary markets across the United States. The Company seeks to acquire properties that provide income and growth that enable the Company to leverage its real estate operating expertise to enhance shareholder value through active asset management, prudent property re-positioning and disciplined capital deployment.

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