Plymouth Industrial REIT, Inc. (NYSE:PLYM) Receives Consensus Rating of “Hold” from Analysts

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have received a consensus rating of “Hold” from the nine research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $23.89.

A number of analysts recently issued reports on PLYM shares. JMP Securities restated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. JPMorgan Chase & Co. decreased their price objective on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Truist Financial downgraded shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Robert W. Baird decreased their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Finally, Barclays reduced their price target on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, November 18th.

Plymouth Industrial REIT Stock Down 1.9 %

Shares of NYSE:PLYM opened at $16.92 on Wednesday. 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 company has a fifty day simple moving average of $17.89 and a 200 day simple moving average of $20.83. The firm has a market cap of $767.77 million, a PE ratio of 845.75 and a beta of 1.34. Plymouth Industrial REIT has a 12-month low of $16.37 and a 12-month high of $24.71.

Plymouth Industrial REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.24 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 annualized dividend and a yield of 5.68%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 4,800.00%.

Insider Buying and Selling at Plymouth Industrial REIT

In other news, Director Pendleton P. Jr. White purchased 5,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $18.39 per share, with a total value of $91,950.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $91,950. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey E. Witherell purchased 2,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $18.49 per share, with a total value of $36,980.00. Following the purchase, the chief executive officer now owns 252,248 shares in the company, valued at $4,664,065.52. This represents a 0.80 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Plymouth Industrial REIT

Large investors have recently added to or reduced their stakes in the stock. Quarry LP raised its stake in shares of Plymouth Industrial REIT by 88.4% in the third quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after purchasing an additional 860 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Plymouth Industrial REIT by 1.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock valued at $1,064,000 after purchasing an additional 900 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Plymouth Industrial REIT by 2.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company’s stock valued at $736,000 after purchasing an additional 952 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Plymouth Industrial REIT by 11.4% in the third quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company’s stock valued at $290,000 after purchasing an additional 1,317 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Plymouth Industrial REIT by 15.0% in the fourth quarter. SG Americas Securities LLC now owns 10,390 shares of the company’s stock valued at $185,000 after purchasing an additional 1,358 shares in the last quarter. 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.