Plymouth Industrial REIT, Inc. (NYSE:PLYM) Receives $24.33 Average Price Target from Analysts

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $24.33.

Several equities analysts have commented on the stock. Robert W. Baird reduced 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 research note on Tuesday, November 12th. Truist Financial lowered their price target on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. BNP Paribas cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research report on Friday, November 8th. Finally, Barclays lowered their target price on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th.

Insider Buying and Selling at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $91,950. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey E. Witherell bought 2,000 shares of the stock in a transaction on Friday, November 15th. The shares were acquired at an average cost of $18.49 per share, with a total value of $36,980.00. Following the acquisition, the chief executive officer now directly owns 252,248 shares in the company, valued at approximately $4,664,065.52. This trade 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 Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in shares of Plymouth Industrial REIT by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 226,578 shares of the company’s stock worth $4,844,000 after buying an additional 6,736 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Plymouth Industrial REIT by 7.6% in the second quarter. Victory Capital Management Inc. now owns 55,100 shares of the company’s stock valued at $1,178,000 after purchasing an additional 3,900 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Plymouth Industrial REIT during the second quarter worth $1,078,000. Envestnet Asset Management Inc. grew its position in Plymouth Industrial REIT by 9.8% in the second quarter. Envestnet Asset Management Inc. now owns 198,431 shares of the company’s stock valued at $4,242,000 after purchasing an additional 17,710 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Plymouth Industrial REIT by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company’s stock valued at $11,480,000 after buying an additional 4,265 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Plymouth Industrial REIT Stock Performance

Shares of PLYM opened at $17.22 on Friday. The company’s 50 day moving average price is $18.86 and its 200 day moving average price is $21.35. The company has a market capitalization of $781.60 million, a PE ratio of 861.00, a PEG ratio of 1.47 and a beta of 1.34. Plymouth Industrial REIT has a 52 week low of $17.20 and a 52 week high of $24.71. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.57%. The ex-dividend date is Tuesday, December 31st. Plymouth Industrial REIT’s dividend 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.