Plymouth Industrial REIT (PLYM) Short Interest Up 222.7% in May

Plymouth Industrial REIT (NYSEAMERICAN:PLYM) was the recipient of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 80,307 shares, a growth of 222.7% from the May 15th total of 24,888 shares. Based on an average daily volume of 27,586 shares, the days-to-cover ratio is currently 2.9 days. Approximately 2.4% of the company’s shares are sold short.

Shares of PLYM opened at $17.19 on Tuesday. Plymouth Industrial REIT has a 12-month low of $15.09 and a 12-month high of $19.00.

Plymouth Industrial REIT (NYSEAMERICAN:PLYM) last announced its quarterly earnings data on Thursday, May 3rd. The company reported ($1.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.29) by ($0.09). Plymouth Industrial REIT had a negative net margin of 42.59% and a negative return on equity of 98.43%. The firm had revenue of $11.88 million during the quarter, compared to analysts’ expectations of $9.68 million.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BB&T Securities LLC purchased a new stake in shares of Plymouth Industrial REIT in the fourth quarter valued at about $507,000. D.A. Davidson & CO. purchased a new position in Plymouth Industrial REIT during the fourth quarter worth about $516,000. Finally, Kennedy Capital Management Inc. purchased a new position in Plymouth Industrial REIT during the fourth quarter worth about $753,000.

Separately, Zacks Investment Research lowered shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, April 6th.

Plymouth Industrial REIT Company Profile

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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