Plymouth Industrial REIT, Inc. (PLYM) To Go Ex-Dividend on December 31st

Plymouth Industrial REIT, Inc. (NYSE:PLYM) declared a quarterly dividend on Friday, December 13th,NASDAQ Dividends reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.24 per share on Friday, January 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date is Tuesday, December 31st.

Plymouth Industrial REIT has a dividend payout ratio of 1,285.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Plymouth Industrial REIT to earn $1.98 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 45.5%.

Plymouth Industrial REIT Price Performance

NYSE:PLYM opened at $17.73 on Friday. Plymouth Industrial REIT has a 52-week low of $17.22 and a 52-week high of $24.71. The stock has a fifty day moving average of $19.26 and a 200 day moving average of $21.49. 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 firm has a market capitalization of $804.75 million, a price-to-earnings ratio of 886.50, a P/E/G ratio of 1.47 and a beta of 1.34.

Insiders Place Their Bets

In related news, Director Pendleton P. Jr. White acquired 5,000 shares of the stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $91,950. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey E. Witherell acquired 2,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $18.49 per share, with a total value of $36,980.00. Following the purchase, the chief executive officer now owns 252,248 shares of the company’s stock, valued at approximately $4,664,065.52. This trade represents a 0.80 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PLYM shares. BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target for the company. in a research report on Friday, November 8th. Robert W. Baird cut their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Truist Financial lowered their price objective on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Finally, Barclays cut their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.33.

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.