Plymouth Industrial REIT (NYSE:PLYM) Sees Strong Trading Volume

Plymouth Industrial REIT, Inc. (NYSE:PLYMGet Rating) shares saw unusually-strong trading volume on Tuesday . Approximately 19,633 shares were traded during trading, a decline of 94% from the previous session’s volume of 308,770 shares.The stock last traded at $19.26 and had previously closed at $20.61.

Analysts Set New Price Targets

Separately, KeyCorp decreased their target price on Plymouth Industrial REIT from $32.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

Plymouth Industrial REIT Price Performance

The stock has a fifty day moving average of $19.87 and a two-hundred day moving average of $21.49. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 1.92.

Plymouth Industrial REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.88 dividend on an annualized basis and a yield of 4.50%. Plymouth Industrial REIT’s payout ratio is currently -106.02%.

Institutional Trading of Plymouth Industrial REIT

Large investors have recently bought and sold shares of the business. Loomis Sayles & Co. L P acquired a new stake in Plymouth Industrial REIT during the 4th quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Plymouth Industrial REIT in the 1st quarter valued at about $33,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Plymouth Industrial REIT in the 1st quarter valued at about $81,000. Captrust Financial Advisors acquired a new stake in shares of Plymouth Industrial REIT in the 2nd quarter valued at about $60,000. Finally, Point72 Hong Kong Ltd grew its stake in shares of Plymouth Industrial REIT by 443.8% in the 4th quarter. Point72 Hong Kong Ltd now owns 3,703 shares of the company’s stock valued at $118,000 after buying an additional 3,022 shares during the period. 96.69% of the stock is currently owned by institutional investors and hedge funds.

About Plymouth Industrial REIT

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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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