Plymouth Industrial REIT, Inc. (NYSE:PLYM) Receives $25.22 Average Target Price from Analysts

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $25.22.

Several analysts have recently commented on PLYM shares. JMP Securities reissued a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. Truist Financial lifted their target price on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Barclays upped their target price on shares of 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 reduced their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, B. Riley upped their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a report on Monday, August 5th.

Plymouth Industrial REIT Price Performance

PLYM opened at $18.38 on Friday. Plymouth Industrial REIT has a one year low of $18.29 and a one year high of $25.55. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.16. The company’s 50 day simple moving average is $21.54 and its 200-day simple moving average is $21.98. The stock has a market capitalization of $834.27 million, a P/E ratio of 919.00, a price-to-earnings-growth ratio of 1.43 and a beta of 1.37.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 5.22%. Plymouth Industrial REIT’s payout ratio is 4,800.00%.

Institutional Trading of Plymouth Industrial REIT

Several hedge funds have recently bought and sold shares of the stock. Swiss National Bank boosted its stake in Plymouth Industrial REIT by 2.4% in the 1st quarter. Swiss National Bank now owns 80,400 shares of the company’s stock worth $1,809,000 after purchasing an additional 1,900 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Plymouth Industrial REIT by 4.4% in the 1st quarter. Russell Investments Group Ltd. now owns 192,851 shares of the company’s stock valued at $4,339,000 after purchasing an additional 8,187 shares during the period. Vanguard Group Inc. grew its holdings in shares of Plymouth Industrial REIT by 2.8% during the first quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock worth $95,943,000 after buying an additional 115,318 shares in the last quarter. American International Group Inc. lifted its stake in 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 acquiring an additional 544 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its stake in Plymouth Industrial REIT by 33.9% in the 1st quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock valued at $112,000 after acquiring an additional 1,266 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.