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

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has received an average recommendation of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $24.33.

A number of equities analysts have recently weighed in on the company. BMO Capital Markets dropped their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Wednesday, August 28th. BNP Paribas lowered shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research note on Friday, November 8th. Truist Financial decreased their target price on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Robert W. Baird dropped 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 research note on Tuesday, November 12th. Finally, Barclays cut their price objective on 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 Trading Up 3.6 %

NYSE PLYM opened at $19.21 on Tuesday. The firm’s 50 day moving average price is $20.27 and its two-hundred day moving average price is $21.75. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. Plymouth Industrial REIT has a twelve month low of $18.08 and a twelve month high of $25.55. The stock has a market cap of $871.70 million, a price-to-earnings ratio of 960.25, a PEG ratio of 1.44 and a beta of 1.34.

Plymouth Industrial REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend was Monday, September 30th. Plymouth Industrial REIT’s payout ratio is presently 4,800.00%.

Insider Buying and Selling

In related news, CEO Jeffrey E. Witherell bought 2,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $18.49 per share, with a total value of $36,980.00. Following the completion of the transaction, the chief executive officer now directly owns 252,248 shares of the company’s stock, valued at $4,664,065.52. This trade represents a 0.80 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pendleton P. Jr. White purchased 5,000 shares of the stock in a transaction on Friday, November 15th. The shares were bought at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $91,950. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PLYM. Tidal Investments LLC grew its holdings in Plymouth Industrial REIT by 7.4% in the 3rd quarter. Tidal Investments LLC now owns 23,433 shares of the company’s stock valued at $530,000 after buying an additional 1,614 shares during the last quarter. Barclays PLC boosted its position in shares of Plymouth Industrial REIT by 321.2% in the third quarter. Barclays PLC now owns 63,101 shares of the company’s stock valued at $1,426,000 after acquiring an additional 48,119 shares during the period. Geode Capital Management LLC grew its stake in shares of Plymouth Industrial REIT by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock worth $23,685,000 after acquiring an additional 29,924 shares during the last quarter. Nomura Asset Management Co. Ltd. grew 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 worth $1,064,000 after acquiring an additional 900 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in Plymouth Industrial REIT by 7.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 32,352 shares of the company’s stock worth $731,000 after acquiring an additional 2,110 shares during the period. Institutional investors own 92.67% of the company’s stock.

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.