Plymouth Industrial REIT, Inc. (NYSE:PLYM) Given Consensus Recommendation of “Hold” by Analysts

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have been given an average rating of “Hold” by the ten research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $21.10.

Several analysts have commented on PLYM shares. Robert W. Baird dropped their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Thursday, May 8th. Truist Financial dropped their target price on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Monday, March 24th. Wedbush set a $17.00 target price on shares of Plymouth Industrial REIT in a report on Friday, February 28th. KeyCorp dropped their target price on shares of Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Barclays lowered their price objective on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating on the stock in a report on Monday, March 31st.

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in Plymouth Industrial REIT by 15.0% during the fourth quarter. SG Americas Securities LLC now owns 10,390 shares of the company’s stock worth $185,000 after purchasing an additional 1,358 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Plymouth Industrial REIT by 2.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company’s stock worth $736,000 after buying an additional 952 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Plymouth Industrial REIT by 4.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 57,243 shares of the company’s stock worth $1,015,000 after purchasing an additional 2,408 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Plymouth Industrial REIT by 1.4% in the 4th quarter. Rhumbline Advisers now owns 73,529 shares of the company’s stock worth $1,309,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Meixler Investment Management Ltd. raised its position in Plymouth Industrial REIT by 129.0% in the 4th quarter. Meixler Investment Management Ltd. now owns 48,813 shares of the company’s stock valued at $869,000 after buying an additional 27,500 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Plymouth Industrial REIT Stock Up 1.9%

Plymouth Industrial REIT stock opened at $16.22 on Tuesday. The company’s 50 day simple moving average is $15.29 and its 200 day simple moving average is $16.64. Plymouth Industrial REIT has a fifty-two week low of $12.70 and a fifty-two week high of $24.71. The firm has a market capitalization of $738.56 million, a price-to-earnings ratio of 810.75 and a beta of 1.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12.

Plymouth Industrial REIT (NYSE:PLYM) last announced its earnings results on Thursday, May 1st. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The company had revenue of $45.57 million for the quarter, compared to analyst estimates of $47.69 million. Plymouth Industrial REIT had a return on equity of 0.20% and a net margin of 0.46%. As a group, sell-side analysts anticipate that Plymouth Industrial REIT will post 1.83 EPS for the current year.

Plymouth Industrial REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 5.92%. Plymouth Industrial REIT’s payout ratio is 31.48%.

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.