Brokerages Set Plymouth Industrial REIT (NYSE:PLYM) Target Price at $21.55

Plymouth Industrial REIT (NYSE:PLYM) has been assigned a consensus rating of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $21.5455.

PLYM has been the subject of a number of research analyst reports. Truist Financial increased their target price on shares of Plymouth Industrial REIT from $18.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, August 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, October 8th. Robert W. Baird downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $19.00 to $24.00 in a research report on Thursday, October 23rd. Colliers Securities downgraded shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a research report on Monday, October 27th. Finally, Baird R W downgraded shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd.

Plymouth Industrial REIT Trading Up 0.3%

NYSE PLYM opened at $22.02 on Friday. Plymouth Industrial REIT has a 12 month low of $12.70 and a 12 month high of $22.65. The company has a 50-day moving average of $21.93 and a 200-day moving average of $18.02. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market cap of $980.77 million, a P/E ratio of 7.64 and a beta of 1.18.

Plymouth Industrial REIT (NYSE:PLYM) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Plymouth Industrial REIT had a net margin of 67.77% and a return on equity of 24.24%. The company had revenue of $47.20 million during the quarter, compared to the consensus estimate of $46.20 million. As a group, equities analysts predict that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, September 30th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is 33.33%.

Institutional Trading of Plymouth Industrial REIT

A number of institutional investors and hedge funds have recently bought and sold shares of PLYM. Janney Montgomery Scott LLC purchased a new position in shares of Plymouth Industrial REIT during the 1st quarter valued at approximately $408,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Plymouth Industrial REIT by 29.6% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 700,000 shares of the company’s stock valued at $11,410,000 after buying an additional 160,000 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Plymouth Industrial REIT by 7.8% during the 1st quarter. Russell Investments Group Ltd. now owns 128,593 shares of the company’s stock valued at $2,096,000 after buying an additional 9,340 shares during the last quarter. BROOKFIELD Corp ON purchased a new position in shares of Plymouth Industrial REIT during the 1st quarter valued at approximately $3,894,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Plymouth Industrial REIT by 6.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 219,326 shares of the company’s stock valued at $3,522,000 after buying an additional 13,062 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.