Plymouth Industrial REIT (NYSE:PLYM) Reaches New 1-Year High – Should You Buy?

Plymouth Industrial REIT (NYSE:PLYM)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $22.74 and last traded at $22.6450, with a volume of 2219072 shares changing hands. The stock had previously closed at $22.18.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PLYM shares. Citizens Jmp downgraded Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. Truist Financial boosted their price objective on shares of Plymouth Industrial REIT from $18.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, August 20th. Baird R W downgraded shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. BMO Capital Markets decreased their target price on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating for the company in a research note on Monday, October 27th. Finally, Industrial Alliance Securities set a $22.00 price target on shares of Plymouth Industrial REIT in a report on Monday, October 27th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $21.40.

Plymouth Industrial REIT Price Performance

The company’s 50-day simple moving average is $21.99 and its 200 day simple moving average is $18.83. The company has a market capitalization of $1.01 billion, a P/E ratio of 11.34 and a beta of 1.18. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.31.

Plymouth Industrial REIT (NYSE:PLYM) last released its quarterly earnings data on Monday, November 10th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($1.70). The business had revenue of $51.16 million during the quarter, compared to analyst estimates of $49.62 million. Plymouth Industrial REIT had a net margin of 47.78% and a return on equity of 16.76%. As a group, sell-side analysts expect that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, September 30th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is currently 48.00%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC lifted its position in Plymouth Industrial REIT by 136.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,594 shares of the company’s stock worth $26,000 after acquiring an additional 919 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Plymouth Industrial REIT by 233.0% in the third quarter. GAMMA Investing LLC now owns 1,605 shares of the company’s stock worth $36,000 after purchasing an additional 1,123 shares during the period. CWM LLC lifted its position in shares of Plymouth Industrial REIT by 40.5% during the 3rd quarter. CWM LLC now owns 2,210 shares of the company’s stock worth $49,000 after purchasing an additional 637 shares during the last quarter. Covestor Ltd boosted its stake in Plymouth Industrial REIT by 1,965.3% during the 3rd quarter. Covestor Ltd now owns 2,499 shares of the company’s stock valued at $55,000 after purchasing an additional 2,378 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in Plymouth Industrial REIT by 65.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,834 shares of the company’s stock valued at $62,000 after purchasing an additional 1,514 shares during the period. Institutional investors 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.