Short Interest in Plymouth Industrial REIT, Inc. (NYSE:PLYM) Declines By 33.0%

Plymouth Industrial REIT, Inc. (NYSE:PLYM - Get Free Report) saw a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 823,900 shares, a drop of 33.0% from the March 31st total of 1,230,000 shares. Based on an average daily trading volume, of 231,300 shares, the short-interest ratio is presently 3.6 days.

Insider Activity at Plymouth Industrial REIT

In other news, Director Pendleton P. White bought 4,000 shares of the stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $21.58 per share, with a total value of $86,320.00. Following the completion of the acquisition, the director now owns 4,000 shares in the company, valued at $86,320. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Plymouth Industrial REIT

Institutional investors have recently made changes to their positions in the business. Knights of Columbus Asset Advisors LLC grew its holdings in Plymouth Industrial REIT by 94.6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 192,243 shares of the company's stock valued at $4,627,000 after buying an additional 93,434 shares in the last quarter. Keeley Teton Advisors LLC boosted its holdings in shares of Plymouth Industrial REIT by 124.8% in the 3rd quarter. Keeley Teton Advisors LLC now owns 165,436 shares of the company's stock worth $3,466,000 after purchasing an additional 91,834 shares during the period. Strs Ohio boosted its holdings in shares of Plymouth Industrial REIT by 60.1% in the 4th quarter. Strs Ohio now owns 127,004 shares of the company's stock worth $3,056,000 after purchasing an additional 47,700 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Plymouth Industrial REIT by 53.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 471,532 shares of the company's stock worth $9,879,000 after purchasing an additional 164,031 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Plymouth Industrial REIT by 25.8% in the 4th quarter. Jennison Associates LLC now owns 3,949,004 shares of the company's stock worth $95,053,000 after purchasing an additional 809,570 shares during the period. Hedge funds and other institutional investors own 92.67% of the company's stock.

Plymouth Industrial REIT Price Performance

Shares of NYSE:PLYM traded up $0.11 during trading on Friday, hitting $20.76. 176,526 shares of the company's stock were exchanged, compared to its average volume of 241,436. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.11 and a quick ratio of 0.11. Plymouth Industrial REIT has a 52-week low of $19.21 and a 52-week high of $25.55. The business's 50-day simple moving average is $21.54 and its 200 day simple moving average is $21.98. The company has a market cap of $942.09 million, a price-to-earnings ratio of 109.26, a PEG ratio of 1.54 and a beta of 1.36.

Plymouth Industrial REIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 annualized dividend and a dividend yield of 4.62%. This is a boost from Plymouth Industrial REIT's previous quarterly dividend of $0.23. Plymouth Industrial REIT's dividend payout ratio (DPR) is currently 505.26%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PLYM shares. JMP Securities raised Plymouth Industrial REIT from a "market perform" rating to an "outperform" rating and set a $27.00 price objective on the stock in a research note on Monday, January 22nd. Truist Financial decreased their price objective on Plymouth Industrial REIT from $26.00 to $24.00 and set a "buy" rating on the stock in a research note on Thursday, February 29th. Finally, Barclays started coverage on Plymouth Industrial REIT in a research note on Wednesday, March 27th. They issued an "equal weight" rating and a $22.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.00.

About Plymouth Industrial REIT

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.