Plymouth Industrial REIT, Inc. (NYSE:PLYM) Receives $22.44 Average PT from Brokerages

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has been given an average recommendation of “Hold” by the nine analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $22.44.

A number of equities analysts recently weighed in on the company. Robert W. Baird reduced their price target on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. JMP Securities reissued a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Wedbush set a $17.00 target price on Plymouth Industrial REIT in a report on Friday, February 28th. Truist Financial cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. reduced their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th.

Plymouth Industrial REIT Stock Down 1.7 %

Plymouth Industrial REIT stock opened at $17.05 on Thursday. 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 business’s 50-day simple moving average is $16.84 and its two-hundred day simple moving average is $19.00. The company has a market cap of $776.42 million, a PE ratio of 852.25 and a beta of 1.45. Plymouth Industrial REIT has a fifty-two week low of $16.06 and a fifty-two week high of $24.71.

Plymouth Industrial REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.63%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 31.37%.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of large investors have recently made changes to their positions in PLYM. Westwood Holdings Group Inc. grew its position in shares of Plymouth Industrial REIT by 33.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company’s stock valued at $64,634,000 after purchasing an additional 901,251 shares in the last quarter. Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Plymouth Industrial REIT in the fourth quarter valued at approximately $10,433,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Plymouth Industrial REIT in the fourth quarter valued at approximately $9,612,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Plymouth Industrial REIT in the fourth quarter valued at approximately $7,443,000. Finally, Charles Schwab Investment Management Inc. grew its position in Plymouth Industrial REIT by 24.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock worth $20,583,000 after acquiring an additional 180,003 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

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.