Plymouth Industrial REIT, Inc. (NYSE:PLYM) Receives $22.44 Consensus PT from Analysts

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have been assigned a consensus recommendation of “Hold” from the nine research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $22.44.

Several brokerages recently weighed in on PLYM. Truist Financial lowered Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Robert W. Baird lowered their price target 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. Wedbush set a $17.00 price target on Plymouth Industrial REIT in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered 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. Finally, JMP Securities restated a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th.

Institutional Trading of Plymouth Industrial REIT

Hedge funds have recently modified their holdings of the stock. Quarry LP raised its stake in shares of Plymouth Industrial REIT by 88.4% in the third quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after acquiring an additional 860 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Plymouth Industrial REIT by 3,130.6% in the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after acquiring an additional 1,941 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Plymouth Industrial REIT in the third quarter valued at $46,000. Quadrant Capital Group LLC raised its stake in shares of Plymouth Industrial REIT by 38.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock valued at $54,000 after acquiring an additional 844 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Plymouth Industrial REIT in the third quarter valued at $123,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Plymouth Industrial REIT Trading Down 1.7 %

Shares of Plymouth Industrial REIT stock opened at $17.05 on Thursday. The firm has a market capitalization of $776.42 million, a price-to-earnings ratio of 852.25 and a beta of 1.45. Plymouth Industrial REIT has a fifty-two week low of $16.06 and a fifty-two 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. The stock has a 50 day moving average of $16.84 and a 200 day moving average of $19.00.

Plymouth Industrial REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.63%. The ex-dividend date of this dividend is Monday, March 31st. Plymouth Industrial REIT’s payout ratio is currently 31.37%.

Plymouth Industrial REIT Company Profile

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.