Plymouth Industrial REIT, Inc. (NYSE:PLYM) Receives Average Recommendation of “Hold” from Brokerages

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has been given a consensus recommendation of “Hold” by the seven research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $25.57.

A number of equities analysts have commented on PLYM shares. Truist Financial boosted their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Wedbush upped their target price on Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. decreased their price target on shares of Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. BMO Capital Markets decreased their target price on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 28th. Finally, Barclays upped their price target 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.

Plymouth Industrial REIT Stock Performance

Shares of PLYM opened at $22.80 on Thursday. Plymouth Industrial REIT has a 12-month low of $19.21 and a 12-month high of $25.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49. The company has a market cap of $1.04 billion, a PE ratio of 53.02, a price-to-earnings-growth ratio of 1.71 and a beta of 1.36. The stock has a 50-day moving average price of $23.54 and a 200-day moving average price of $22.07.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 4.21%. Plymouth Industrial REIT’s payout ratio is presently 223.26%.

Insider Activity at Plymouth Industrial REIT

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $23.58, for a total value of $13,285,868.04. Following the completion of the sale, the insider now owns 4,474,292 shares of the company’s stock, valued at $105,503,805.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of large investors have recently modified their holdings of PLYM. Vanguard Group Inc. lifted 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 valued at $95,943,000 after purchasing an additional 115,318 shares during the last quarter. Jennison Associates LLC boosted its stake in Plymouth Industrial REIT by 5.9% in the 1st quarter. Jennison Associates LLC now owns 4,183,540 shares of the company’s stock worth $94,130,000 after purchasing an additional 234,536 shares in the last quarter. Westwood Holdings Group Inc. grew its position in Plymouth Industrial REIT by 1.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock valued at $63,372,000 after purchasing an additional 28,272 shares during the last quarter. Wellington Management Group LLP raised its holdings in Plymouth Industrial REIT by 1.8% in the fourth quarter. Wellington Management Group LLP now owns 1,669,720 shares of the company’s stock worth $40,190,000 after buying an additional 29,479 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Plymouth Industrial REIT by 19.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 562,177 shares of the company’s stock valued at $13,532,000 after buying an additional 90,645 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

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.