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

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have been assigned an average rating of “Hold” from the ten analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $21.20.

PLYM has been the topic of several recent research reports. Wedbush set a $17.00 price target on shares of Plymouth Industrial REIT in a report on Friday, February 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Truist Financial reduced their price objective on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Monday, March 24th. Finally, Robert W. Baird dropped their price objective on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Westwood Holdings Group Inc. grew its holdings in Plymouth Industrial REIT by 33.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company’s stock valued at $64,634,000 after purchasing an additional 901,251 shares during the period. State Street Corp boosted its holdings in shares of Plymouth Industrial REIT by 1.4% in the 3rd quarter. State Street Corp now owns 1,223,747 shares of the company’s stock valued at $27,949,000 after purchasing an additional 16,398 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Plymouth Industrial REIT by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock valued at $23,685,000 after buying an additional 29,924 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Plymouth Industrial REIT by 1.7% during the 4th quarter. JPMorgan Chase & Co. now owns 906,149 shares of the company’s stock worth $16,129,000 after buying an additional 15,496 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new position in shares of Plymouth Industrial REIT in the 4th quarter worth $10,433,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Plymouth Industrial REIT Price Performance

Plymouth Industrial REIT stock opened at $14.05 on Monday. The firm has a market capitalization of $639.95 million, a PE ratio of 702.45 and a beta of 1.19. Plymouth Industrial REIT has a 52 week low of $12.70 and a 52 week high of $24.71. The firm’s 50-day simple moving average is $16.32 and its 200 day simple moving average is $18.10. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42.

Plymouth Industrial REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 6.83%. The ex-dividend date is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 31.37%.

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.