Zacks Investment Research Lowers Plymouth Industrial REIT (NYSE:PLYM) to Hold

Zacks Investment Research lowered shares of Plymouth Industrial REIT (NYSE:PLYM) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Plymouth Industrial REIT, Inc. is a full service, vertically integrated real estate investment company. It focused on the acquisition and management of single and multi-tenant distribution centers, warehouses and light industrial properties, primarily located in secondary and select primary markets. Plymouth Industrial REIT, Inc. is based in Boston, United States. “

PLYM has been the topic of several other reports. Wedbush raised their price target on Plymouth Industrial REIT from $25.00 to $30.00 and gave the stock an outperform rating in a research report on Monday, November 8th. B. Riley restated a buy rating on shares of Plymouth Industrial REIT in a research report on Tuesday, September 28th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Plymouth Industrial REIT currently has a consensus rating of Buy and an average price target of $30.50.

NYSE PLYM opened at $28.62 on Tuesday. The stock has a fifty day moving average of $29.69 and a 200-day moving average of $25.32. The stock has a market capitalization of $990.40 million, a P/E ratio of -30.13, a price-to-earnings-growth ratio of 2.15 and a beta of 1.22. Plymouth Industrial REIT has a 52 week low of $13.96 and a 52 week high of $32.37. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.29 and a current ratio of 1.29.

Plymouth Industrial REIT (NYSE:PLYM) last released its earnings results on Friday, November 5th. The company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.06). Plymouth Industrial REIT had a negative net margin of 9.87% and a negative return on equity of 5.00%. During the same period last year, the firm earned $0.42 earnings per share. Equities research analysts forecast that Plymouth Industrial REIT will post 1.73 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 31st. Shareholders of record on Friday, December 31st will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, December 30th. This represents a $0.84 annualized dividend and a yield of 2.94%. Plymouth Industrial REIT’s dividend payout ratio is presently -88.42%.

A number of hedge funds have recently bought and sold shares of PLYM. Arkadios Wealth Advisors bought a new position in Plymouth Industrial REIT during the third quarter worth about $34,000. Lazard Asset Management LLC bought a new stake in shares of Plymouth Industrial REIT in the second quarter valued at about $38,000. Koshinski Asset Management Inc. bought a new stake in shares of Plymouth Industrial REIT in the third quarter valued at about $68,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Plymouth Industrial REIT by 22.1% in the second quarter. BNP Paribas Arbitrage SA now owns 3,857 shares of the company’s stock valued at $77,000 after purchasing an additional 698 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Plymouth Industrial REIT in the second quarter valued at about $167,000. Hedge funds and other institutional investors own 83.56% of the company’s stock.

Plymouth Industrial REIT Company Profile

Plymouth Industrial REIT, Inc engages in the acquisition, ownership, and management of single and multi-tenant distribution centers, warehouses, and light industrial properties. It seeks to acquire properties that provide income and growth, and enhance shareholder value through active asset management, prudent property re-positioning, and disciplined capital deployment.

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