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

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has earned an average rating of “Hold” from the nine analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $25.22.

A number of brokerages have issued reports on PLYM. Barclays upped their price objective 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. Robert W. Baird cut their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday. JMP Securities reissued a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. Wedbush boosted their target price on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, B. Riley increased their price target on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 5th.

Insider Activity at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the completion of the sale, the insider now directly owns 4,474,292 shares in the company, valued at approximately $105,503,805.36. The trade was a 11.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PLYM. B. Riley Wealth Advisors Inc. increased its position in Plymouth Industrial REIT by 2.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 22,192 shares of the company’s stock worth $470,000 after purchasing an additional 490 shares during the last quarter. American International Group Inc. lifted its stake in shares of Plymouth Industrial REIT by 2.5% in the 1st quarter. American International Group Inc. now owns 22,508 shares of the company’s stock valued at $506,000 after purchasing an additional 544 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Plymouth Industrial REIT by 5.8% during the 1st quarter. Tidal Investments LLC now owns 19,915 shares of the company’s stock worth $448,000 after purchasing an additional 1,088 shares during the period. EntryPoint Capital LLC increased its position in shares of Plymouth Industrial REIT by 33.9% during the 1st quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock worth $112,000 after purchasing an additional 1,266 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Plymouth Industrial REIT by 11.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company’s stock worth $290,000 after purchasing an additional 1,317 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Plymouth Industrial REIT Price Performance

PLYM stock opened at $18.62 on Friday. The company’s fifty day moving average price is $21.72 and its 200-day moving average price is $22.01. Plymouth Industrial REIT has a one year low of $18.55 and a one year high of $25.55. The company has a market capitalization of $845.27 million, a PE ratio of 931.00, a price-to-earnings-growth ratio of 1.53 and a beta of 1.37. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.16 and a current ratio of 0.16.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.16%. Plymouth Industrial REIT’s payout ratio is 4,800.00%.

About Plymouth Industrial REIT

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.