Plymouth Industrial REIT, Inc. (NYSE:PLYM) Receives $25.00 Average PT from Analysts

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $25.00.

Several research analysts recently weighed in on the company. JMP Securities raised Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research report on Monday, January 22nd. Barclays initiated coverage on Plymouth Industrial REIT in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $22.00 target price on the stock. Finally, Truist Financial decreased their price target on shares of Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 29th.

Insider Activity at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, Director Pendleton P. White acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $21.58 per share, with a total value of $86,320.00. Following the completion of the transaction, the director now owns 4,000 shares in the company, valued at $86,320. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC lifted its stake in shares of Plymouth Industrial REIT by 2,306.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,155 shares of the company’s stock valued at $28,000 after purchasing an additional 1,107 shares during the last quarter. Spirit of America Management Corp NY acquired a new stake in shares of Plymouth Industrial REIT in the third quarter worth about $31,000. Signaturefd LLC boosted its stake in shares of Plymouth Industrial REIT by 40.8% during the 4th quarter. Signaturefd LLC now owns 1,731 shares of the company’s stock worth $42,000 after acquiring an additional 502 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Plymouth Industrial REIT by 77.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,751 shares of the company’s stock valued at $42,000 after acquiring an additional 764 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Plymouth Industrial REIT by 774.4% in the 4th quarter. Federated Hermes Inc. now owns 1,845 shares of the company’s stock valued at $44,000 after acquiring an additional 1,634 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Plymouth Industrial REIT Price Performance

PLYM opened at $20.65 on Friday. The firm has a market capitalization of $937.10 million, a P/E ratio of 108.68, a PEG ratio of 1.58 and a beta of 1.36. The stock has a fifty day moving average of $21.57 and a 200-day moving average of $21.98. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.47. Plymouth Industrial REIT has a 12-month low of $19.21 and a 12-month high of $25.55.

Plymouth Industrial REIT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.65%. This is a positive change from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, March 27th. Plymouth Industrial REIT’s payout ratio is currently 505.26%.

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.