Plymouth Industrial REIT, Inc. (NYSE:PLYM) Receives $25.00 Average PT from Brokerages

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $25.00.

Several research firms recently weighed in on PLYM. Truist Financial decreased their price objective on Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 29th. JMP Securities upgraded shares of Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 price target for the company in a report on Monday, January 22nd. Finally, Barclays initiated coverage on shares of Plymouth Industrial REIT in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 price objective on the stock.

Plymouth Industrial REIT Stock Up 2.0 %

Shares of NYSE PLYM opened at $21.18 on Friday. The stock has a 50 day moving average price of $21.63 and a 200 day moving average price of $22.00. The firm has a market capitalization of $960.92 million, a price-to-earnings ratio of 111.45, a PEG ratio of 1.52 and a beta of 1.36. Plymouth Industrial REIT has a 52-week low of $19.21 and a 52-week high of $25.55. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.11 and a current ratio of 0.11.

Plymouth Industrial REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.96 annualized dividend and a dividend yield of 4.53%. This is an increase from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. Plymouth Industrial REIT’s dividend payout ratio is 505.26%.

Insider Buying and Selling

In related news, Director Pendleton P. White purchased 4,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $21.58 per share, for a total transaction of $86,320.00. Following the purchase, the director now owns 4,000 shares of the company’s stock, valued at approximately $86,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC raised its position in Plymouth Industrial REIT by 2,306.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,155 shares of the company’s stock worth $28,000 after buying an additional 1,107 shares during the last quarter. Spirit of America Management Corp NY purchased a new position in shares of Plymouth Industrial REIT during the third quarter worth $31,000. Signaturefd LLC lifted its position in Plymouth Industrial REIT by 40.8% during the fourth quarter. Signaturefd LLC now owns 1,731 shares of the company’s stock valued at $42,000 after purchasing an additional 502 shares during the period. Quadrant Capital Group LLC boosted its holdings in Plymouth Industrial REIT by 77.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,751 shares of the company’s stock valued at $42,000 after purchasing an additional 764 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Plymouth Industrial REIT by 774.4% during the 4th quarter. Federated Hermes Inc. now owns 1,845 shares of the company’s stock worth $44,000 after purchasing an additional 1,634 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Plymouth Industrial REIT Company Profile

Plymouth Industrial REIT, Inc (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost effective space that is functional, flexible and safe.