Plymouth Industrial REIT (NYSE:PLYM) Sees Unusually-High Trading Volume – Time to Buy?

Plymouth Industrial REIT (NYSE:PLYM) saw unusually-high trading volume on Monday . Approximately 1,134,969 shares traded hands during trading, an increase of 64% from the previous session’s volume of 693,039 shares.The stock last traded at $21.8050 and had previously closed at $21.87.

Analysts Set New Price Targets

A number of equities analysts have commented on PLYM shares. Wall Street Zen upgraded shares of Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Barclays decreased their price target on Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, October 27th. Citizens Jmp lowered Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. BMO Capital Markets decreased their price objective on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating for the company in a research report on Monday, October 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $21.40.

Plymouth Industrial REIT Trading Down 0.3%

The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.31. The firm has a market cap of $970.97 million, a price-to-earnings ratio of 10.90 and a beta of 1.26. The company has a fifty day moving average price of $22.03 and a 200-day moving average price of $19.21.

Plymouth Industrial REIT (NYSE:PLYM) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($1.70). The firm had revenue of $51.16 million for the quarter, compared to analyst estimates of $49.62 million. Plymouth Industrial REIT had a return on equity of 16.76% and a net margin of 47.78%. As a group, research analysts expect that Plymouth Industrial REIT will post 1.83 EPS for the current year.

Plymouth Industrial REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 48.00%.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its holdings in Plymouth Industrial REIT by 136.1% in the 2nd quarter. Parallel Advisors LLC now owns 1,594 shares of the company’s stock worth $26,000 after acquiring an additional 919 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Plymouth Industrial REIT by 233.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,605 shares of the company’s stock worth $36,000 after purchasing an additional 1,123 shares during the last quarter. CWM LLC raised its position in shares of Plymouth Industrial REIT by 40.5% during the 3rd quarter. CWM LLC now owns 2,210 shares of the company’s stock worth $49,000 after purchasing an additional 637 shares during the last quarter. Covestor Ltd lifted its stake in Plymouth Industrial REIT by 1,965.3% in the 3rd quarter. Covestor Ltd now owns 2,499 shares of the company’s stock valued at $55,000 after buying an additional 2,378 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Plymouth Industrial REIT by 65.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,834 shares of the company’s stock worth $62,000 after buying an additional 1,514 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.