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

Plymouth Industrial REIT, Inc. (NYSE:PLYMGet Free Report) has been assigned an average rating of “Hold” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $23.89.

A number of analysts have weighed in on PLYM shares. JMP Securities reiterated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. Barclays decreased their target price on 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 cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. JPMorgan Chase & Co. decreased their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Finally, BNP Paribas cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price on the stock. in a report on Friday, November 8th.

Check Out Our Latest Stock Analysis on Plymouth Industrial REIT

Plymouth Industrial REIT Stock Performance

Shares of NYSE:PLYM opened at $16.92 on Wednesday. The business’s fifty day moving average price is $17.89 and its two-hundred day moving average price is $20.83. Plymouth Industrial REIT has a fifty-two week low of $16.37 and a fifty-two week high of $24.71. The stock has a market capitalization of $767.77 million, a price-to-earnings ratio of 845.75 and a beta of 1.34. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12.

Plymouth Industrial REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.68%. The ex-dividend date is Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio is 4,800.00%.

Insider Activity at Plymouth Industrial REIT

In other news, 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 acquired at an average price of $18.39 per share, with a total value of $91,950.00. Following the transaction, the director now owns 5,000 shares in the company, valued at $91,950. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey E. Witherell bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the transaction, the chief executive officer now owns 252,248 shares in the company, valued at $4,664,065.52. The trade was a 0.80 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP grew its stake in Plymouth Industrial REIT by 88.4% in the third quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after purchasing an additional 860 shares in the last quarter. Copeland Capital Management LLC bought a new position in Plymouth Industrial REIT in the third quarter valued at approximately $43,000. Loomis Sayles & Co. L P grew its stake in Plymouth Industrial REIT by 3,130.6% in the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after purchasing an additional 1,941 shares in the last quarter. Point72 DIFC Ltd bought a new position in Plymouth Industrial REIT in the third quarter valued at approximately $46,000. Finally, Point72 Hong Kong Ltd bought a new position in Plymouth Industrial REIT in the third quarter valued at approximately $123,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

About Plymouth Industrial REIT

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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.

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Analyst Recommendations for Plymouth Industrial REIT (NYSE:PLYM)

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