Analysts Set Plymouth Industrial REIT, Inc. (NYSE:PLYM) Price Target at $23.89

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has been given a consensus rating of “Hold” by the nine ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $23.89.

A number of analysts have weighed in on the stock. Truist Financial cut shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. reduced their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price for the company. in a research report on Friday, November 8th. Barclays cut their price target on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Finally, Robert W. Baird lowered their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th.

Plymouth Industrial REIT Trading Up 2.9 %

Shares of Plymouth Industrial REIT stock opened at $17.32 on Friday. The firm has a market capitalization of $786.14 million, a PE ratio of 866.00 and a beta of 1.33. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. The firm’s 50 day moving average is $16.96 and its 200 day moving average is $19.71. Plymouth Industrial REIT has a 1 year low of $16.06 and a 1 year high of $24.71.

Plymouth Industrial REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend was Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio is presently 31.37%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PLYM. Quarry LP increased its position in shares of Plymouth Industrial REIT by 88.4% during the third quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after buying an additional 860 shares during the period. Loomis Sayles & Co. L P boosted its position in Plymouth Industrial REIT by 3,130.6% during the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after acquiring an additional 1,941 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Plymouth Industrial REIT during the 3rd quarter worth about $46,000. Quadrant Capital Group LLC grew its holdings in Plymouth Industrial REIT by 38.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock worth $54,000 after acquiring an additional 844 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in shares of Plymouth Industrial REIT in the 3rd quarter worth about $123,000. 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.