Analysts Set Plymouth Industrial REIT, Inc. (NYSE:PLYM) PT at $25.57

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have been given an average recommendation of “Hold” by the seven ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $25.57.

Several equities research analysts have recently commented on the company. Truist Financial raised their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. B. Riley lifted their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Barclays boosted their price objective on Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. decreased their target price on shares of Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th.

Plymouth Industrial REIT Price Performance

Shares of PLYM stock opened at $22.60 on Thursday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49. Plymouth Industrial REIT has a 12 month low of $19.21 and a 12 month high of $25.55. The stock has a market cap of $1.03 billion, a P/E ratio of 52.56, a P/E/G ratio of 1.72 and a beta of 1.36. The company has a 50 day simple moving average of $23.46 and a two-hundred day simple moving average of $22.09.

Plymouth Industrial REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Monday, September 30th. Plymouth Industrial REIT’s payout ratio is currently 223.26%.

Insider Transactions at Plymouth Industrial REIT

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the completion of the transaction, the insider now directly owns 4,474,292 shares of the company’s stock, valued at $105,503,805.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Plymouth Industrial REIT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Plymouth Industrial REIT by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock worth $95,943,000 after buying an additional 115,318 shares in the last quarter. Jennison Associates LLC boosted its position in Plymouth Industrial REIT by 5.9% during the 1st quarter. Jennison Associates LLC now owns 4,183,540 shares of the company’s stock valued at $94,130,000 after acquiring an additional 234,536 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in Plymouth Industrial REIT by 1.0% during the second quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock valued at $63,372,000 after acquiring an additional 28,272 shares during the last quarter. Wellington Management Group LLP boosted its stake in Plymouth Industrial REIT by 1.8% in the fourth quarter. Wellington Management Group LLP now owns 1,669,720 shares of the company’s stock valued at $40,190,000 after acquiring an additional 29,479 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Plymouth Industrial REIT by 19.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 562,177 shares of the company’s stock worth $13,532,000 after purchasing an additional 90,645 shares during the last quarter. 92.67% of the stock is owned by 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.