Truist Financial Boosts Plymouth Industrial REIT (NYSE:PLYM) Price Target to $26.00

Plymouth Industrial REIT (NYSE:PLYM) had its target price increased by Truist Financial from $24.00 to $26.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. B. Riley lifted their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a buy rating in a research note on Monday, August 5th. Wedbush increased their price target on Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a neutral rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. lowered their target price on Plymouth Industrial REIT from $24.00 to $23.00 and set an underweight rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $25.50.

Plymouth Industrial REIT Stock Performance

Shares of PLYM stock opened at $23.69 on Tuesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.49. Plymouth Industrial REIT has a 52 week low of $19.21 and a 52 week high of $25.55. The firm has a 50 day moving average of $22.47 and a 200-day moving average of $21.77. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 55.09, a price-to-earnings-growth ratio of 1.77 and a beta of 1.36.

Plymouth Industrial REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.96 annualized dividend and a dividend yield of 4.05%. Plymouth Industrial REIT’s payout ratio is 223.26%.

Institutional Investors Weigh In On Plymouth Industrial REIT

Institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its holdings 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 acquiring an additional 1,107 shares during the last quarter. Signaturefd LLC lifted its position in shares of 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 in the last quarter. Quadrant Capital Group LLC boosted its holdings in Plymouth Industrial REIT by 77.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,751 shares of the company’s stock worth $42,000 after purchasing an additional 764 shares during the last quarter. Federated Hermes Inc. grew its position in Plymouth Industrial REIT by 774.4% in 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 in the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in Plymouth Industrial REIT in the 1st quarter valued at about $89,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

About Plymouth Industrial REIT

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.