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

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have been given an average recommendation of “Hold” by the seven analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $25.57.

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

Plymouth Industrial REIT Price Performance

Shares of NYSE:PLYM opened at $22.80 on Thursday. Plymouth Industrial REIT has a 1-year low of $19.21 and a 1-year high of $25.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49. The stock has a market cap of $1.04 billion, a PE ratio of 53.02, a price-to-earnings-growth ratio of 1.71 and a beta of 1.36. The stock’s fifty day simple moving average is $23.54 and its two-hundred day simple moving average is $22.07.

Plymouth Industrial REIT Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.21%. Plymouth Industrial REIT’s dividend payout ratio is presently 223.26%.

Insider Activity at Plymouth Industrial REIT

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 4,474,292 shares in the company, valued at approximately $105,503,805.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Plymouth Industrial REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Westwood Holdings Group Inc. lifted its holdings in Plymouth Industrial REIT by 10.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,935,803 shares of the company’s stock worth $66,056,000 after purchasing an additional 286,434 shares in the last quarter. F M Investments LLC purchased a new position in Plymouth Industrial REIT during the second quarter valued at approximately $6,088,000. Jennison Associates LLC increased its holdings 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 worth $94,130,000 after acquiring an additional 234,536 shares during the period. Millennium Management LLC lifted its stake in Plymouth Industrial REIT by 115.6% in the 2nd quarter. Millennium Management LLC now owns 338,894 shares of the company’s stock worth $7,246,000 after purchasing an additional 181,725 shares in the last quarter. Finally, Heritage Wealth Advisors boosted its holdings in Plymouth Industrial REIT by 530.6% in the 1st quarter. Heritage Wealth Advisors now owns 208,730 shares of the company’s stock valued at $4,696,000 after purchasing an additional 175,630 shares during the period. 92.67% of the stock is currently owned by institutional investors.

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.