Plymouth Industrial Reit (NYSEAMERICAN:PLYM) Downgraded by Zacks Investment Research

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Zacks Investment Research downgraded shares of Plymouth Industrial Reit (NYSEAMERICAN:PLYM) from a hold rating to a sell rating in a report issued on Tuesday morning, Zacks.com reports.

According to Zacks, “Plymouth Industrial REIT, Inc. is a full service, vertically integrated real estate investment company. It focused on the acquisition and management of single and multi-tenant distribution centers, warehouses and light industrial properties, primarily located in secondary and select primary markets. Plymouth Industrial REIT, Inc. is based in Boston, United States. “

PLYM has been the subject of a number of other reports. National Securities began coverage on Plymouth Industrial Reit in a report on Wednesday, June 19th. They set a buy rating for the company. Wedbush set a $20.00 price objective on Plymouth Industrial Reit and gave the company a buy rating in a report on Monday, May 20th.

PLYM opened at $18.50 on Tuesday. Plymouth Industrial Reit has a fifty-two week low of $10.95 and a fifty-two week high of $19.59.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.50 annualized dividend and a dividend yield of 8.11%.

Several institutional investors have recently bought and sold shares of PLYM. BlackRock Inc. grew its position in shares of Plymouth Industrial Reit by 1,064.1% during the 2nd quarter. BlackRock Inc. now owns 550,886 shares of the company’s stock worth $10,433,000 after buying an additional 503,564 shares during the period. Madison International Realty Holdings LLC acquired a new position in shares of Plymouth Industrial Reit in the 2nd quarter valued at approximately $7,681,000. Monashee Investment Management LLC acquired a new position in shares of Plymouth Industrial Reit in the 2nd quarter valued at approximately $7,553,000. Vanguard Group Inc. grew its position in shares of Plymouth Industrial Reit by 142.1% in the 2nd quarter. Vanguard Group Inc. now owns 538,965 shares of the company’s stock valued at $10,208,000 after purchasing an additional 316,378 shares during the period. Finally, LDR Capital Management LLC acquired a new position in shares of Plymouth Industrial Reit in the 2nd quarter valued at approximately $3,653,000.

About Plymouth Industrial Reit

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.

Further Reading: SEC Filing

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