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

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

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

Plymouth Industrial REIT Price Performance

Shares of NYSE PLYM opened at $21.18 on Friday. 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 has a one year low of $19.21 and a one year high of $25.55. The firm has a market capitalization of $960.92 million, a P/E ratio of 111.45, a PEG ratio of 1.52 and a beta of 1.36. The company’s fifty day moving average is $21.63 and its two-hundred day moving average is $22.00.

Plymouth Industrial REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.53%. This is a boost from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, March 27th. Plymouth Industrial REIT’s dividend payout ratio (DPR) 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 dated Thursday, March 14th. The stock was bought at an average cost of $21.58 per share, with a total value of $86,320.00. Following the completion of the acquisition, the director now directly owns 4,000 shares in the company, valued at approximately $86,320. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Plymouth Industrial REIT

Hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC lifted its stake in shares of Plymouth Industrial REIT by 2,306.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,155 shares of the company’s stock valued at $28,000 after buying an additional 1,107 shares during the period. Spirit of America Management Corp NY acquired a new position in Plymouth Industrial REIT in the 3rd quarter valued at $31,000. Signaturefd LLC raised its holdings in Plymouth Industrial REIT by 40.8% in the 4th quarter. Signaturefd LLC now owns 1,731 shares of the company’s stock valued at $42,000 after acquiring an additional 502 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Plymouth Industrial REIT by 77.4% during the 4th 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 period. Finally, Federated Hermes Inc. boosted its holdings in shares of Plymouth Industrial REIT by 774.4% during the fourth 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 last quarter. 92.67% of the stock is currently 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.