Zacks Investment Research cut shares of Plymouth Industrial REIT, Inc. (NYSEAMERICAN:PLYM) from a buy rating to a sell rating in a research note released on Friday morning.

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. “

Shares of Plymouth Industrial REIT (NYSEAMERICAN PLYM) opened at $18.39 on Friday. Plymouth Industrial REIT has a 12-month low of $16.50 and a 12-month high of $19.00.

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The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Saturday, September 30th were given a dividend of $0.375 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.50 annualized dividend and a dividend yield of 8.16%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently -61.22%.

Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. acquired a new stake in shares of Plymouth Industrial REIT during the 2nd quarter valued at about $272,000. D.A. Davidson & CO. acquired a new position in Plymouth Industrial REIT in the second quarter valued at about $120,000. Finally, BB&T Securities LLC acquired a new position in Plymouth Industrial REIT in the second quarter valued at about $252,000.

Plymouth Industrial REIT Company Profile

Plymouth Industrial REIT, Inc, formerly Plymouth Opportunity REIT, Inc, is a self-administered and self-managed real estate investment trust. The Company primarily focused on single-tenant industrial properties and multi-tenant industrial properties. The Company also focused on the acquisition, ownership and management of single-and multi-tenant class B industrial properties, including distribution centers, warehouses and light industrial properties, primarily located in secondary and select primary markets across the Eastern half of the United States and Texas.

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