Plymouth Industrial REIT, Inc. (NYSE:PLYM) to Issue Quarterly Dividend of $0.24

Plymouth Industrial REIT, Inc. (NYSE:PLYM) announced a quarterly dividend on Friday, December 13th,NASDAQ Dividends reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.24 per share on Friday, January 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date of this dividend is Tuesday, December 31st.

Plymouth Industrial REIT has a payout ratio of 1,285.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Plymouth Industrial REIT to earn $1.98 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 45.5%.

Plymouth Industrial REIT Price Performance

Shares of Plymouth Industrial REIT stock opened at $17.73 on Friday. The business has a 50 day moving average of $19.26 and a 200 day moving average of $21.49. Plymouth Industrial REIT has a 52 week low of $17.22 and a 52 week high of $24.71. The company has a market cap of $804.75 million, a PE ratio of 886.50, a P/E/G ratio of 1.47 and a beta of 1.34. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Truist Financial decreased their price objective on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 29th. Robert W. Baird decreased their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Barclays cut their price objective on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Finally, BNP Paribas lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price for the company. in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Plymouth Industrial REIT currently has an average rating of “Hold” and a consensus price target of $24.33.

Insider Transactions at Plymouth Industrial REIT

In other news, Director Pendleton P. Jr. White acquired 5,000 shares of Plymouth Industrial REIT stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $91,950. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 cost of $18.49 per share, with a total value of $36,980.00. Following the completion of the acquisition, the chief executive officer now directly owns 252,248 shares of the company’s stock, valued at approximately $4,664,065.52. The trade was a 0.80 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.40% 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.