Plymouth Industrial REIT, Inc. (NYSE:PLYM) Given Average Rating of “Hold” by Analysts

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has received a consensus rating of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $24.33.

PLYM has been the topic of several research reports. Barclays decreased their price target on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Truist Financial lowered their price target on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 29th. BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a report on Friday, November 8th. Finally, Robert W. Baird lowered their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th.

Insider Buying and Selling

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

Institutional Investors Weigh In On Plymouth Industrial REIT

Several hedge funds and other institutional investors have recently bought and sold shares of PLYM. Quarry LP grew its stake in shares of Plymouth Industrial REIT by 88.4% in the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after buying an additional 860 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Plymouth Industrial REIT by 1.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock worth $1,064,000 after acquiring an additional 900 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Plymouth Industrial REIT by 11.4% in the third quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company’s stock valued at $290,000 after acquiring an additional 1,317 shares during the period. Tidal Investments LLC increased its holdings in shares of Plymouth Industrial REIT by 7.4% during the third quarter. Tidal Investments LLC now owns 23,433 shares of the company’s stock valued at $530,000 after acquiring an additional 1,614 shares in the last quarter. Finally, Copeland Capital Management LLC acquired a new position in shares of Plymouth Industrial REIT during the third quarter worth approximately $43,000. 92.67% of the stock is owned by institutional investors.

Plymouth Industrial REIT Price Performance

Shares of PLYM stock opened at $17.40 on Friday. The business has a fifty day simple moving average of $18.99 and a 200 day simple moving average of $21.40. The company has a market cap of $789.77 million, a P/E ratio of 870.00, a P/E/G ratio of 1.47 and a beta of 1.34. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. Plymouth Industrial REIT has a twelve month low of $17.20 and a twelve month high of $24.71.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date is Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio is currently 4,800.00%.

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.