Plymouth Industrial REIT, Inc. (NYSE:PLYM) Short Interest Update

Plymouth Industrial REIT, Inc. (NYSE:PLYM - Get Free Report) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,440,000 shares, an increase of 78.8% from the March 15th total of 805,500 shares. Currently, 3.2% of the company's stock are short sold. Based on an average daily trading volume, of 370,300 shares, the short-interest ratio is currently 3.9 days.

Institutional Trading of Plymouth Industrial REIT

Institutional investors have recently made changes to their positions in the stock. Pinebridge Investments L.P. boosted its position in Plymouth Industrial REIT by 4.3% during the 4th quarter. Pinebridge Investments L.P. now owns 18,688 shares of the company's stock worth $333,000 after acquiring an additional 773 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Plymouth Industrial REIT by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company's stock valued at $406,000 after purchasing an additional 817 shares in the last quarter. Quadrant Capital Group LLC increased its position in Plymouth Industrial REIT by 38.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company's stock worth $54,000 after purchasing an additional 844 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Plymouth Industrial REIT by 2.4% during 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 in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Plymouth Industrial REIT by 1.4% in 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. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PLYM. 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 research note on Tuesday, January 14th. Barclays reduced their target price on Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating for the company in a research note on Monday, March 31st. Robert W. Baird dropped their price target on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. JMP Securities reaffirmed a "market outperform" rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Finally, KeyCorp decreased their price objective on shares of Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $21.20.

Plymouth Industrial REIT Stock Performance

Shares of Plymouth Industrial REIT stock traded down $0.30 during trading on Monday, hitting $14.25. 79,385 shares of the stock were exchanged, compared to its average volume of 300,673. 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 has a 12 month low of $12.70 and a 12 month high of $24.71. The stock's fifty day moving average is $16.10 and its 200 day moving average is $17.82. The stock has a market cap of $649.10 million, a PE ratio of 712.50 and a beta of 1.19.

Plymouth Industrial REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 6.74%. Plymouth Industrial REIT's dividend payout ratio is presently 31.37%.

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.