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

Plymouth Industrial REIT (NYSEAMERICAN PLYM) opened at $18.40 on Friday. Plymouth Industrial REIT has a one year low of $16.50 and a one year high of $19.00.

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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Saturday, September 30th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 8.15%. The ex-dividend date of this dividend was Thursday, September 28th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently -61.22%.

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. purchased a new stake in Plymouth Industrial REIT in the 2nd quarter worth approximately $272,000. BB&T Securities LLC purchased a new stake in Plymouth Industrial REIT in the 2nd quarter worth approximately $252,000. Finally, D.A. Davidson & CO. purchased a new stake in Plymouth Industrial REIT in the 2nd quarter worth approximately $120,000.

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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