Plymouth Industrial REIT, Inc. (NYSE:PLYM) Receives $25.57 Average Target Price from Analysts

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has earned an average rating of “Hold” from the seven research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $25.57.

PLYM has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price target on 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. Barclays increased their price objective on Plymouth Industrial REIT from $22.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Truist Financial increased their price target on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. B. Riley increased their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Wedbush increased their target price on Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, August 5th.

Plymouth Industrial REIT Price Performance

Shares of NYSE:PLYM opened at $21.25 on Monday. The company has a market cap of $964.75 million, a P/E ratio of 39.33, a P/E/G ratio of 1.63 and a beta of 1.36. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.49. Plymouth Industrial REIT has a 52 week low of $19.21 and a 52 week high of $25.55. The business has a fifty day simple moving average of $22.78 and a 200-day simple moving average of $22.06.

Plymouth Industrial REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.52%. The ex-dividend date is Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 177.78%.

Insider Activity

In other news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $23.58, for a total value of $13,285,868.04. Following the completion of the transaction, the insider now owns 4,474,292 shares of the company’s stock, valued at $105,503,805.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Copeland Capital Management LLC acquired a new position in shares of Plymouth Industrial REIT in the 3rd quarter valued at approximately $43,000. EntryPoint Capital LLC boosted its stake in Plymouth Industrial REIT by 33.9% during the first quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock worth $112,000 after acquiring an additional 1,266 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in Plymouth Industrial REIT by 431.0% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock worth $202,000 after acquiring an additional 7,668 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in Plymouth Industrial REIT during the third quarter worth $202,000. Finally, SG Americas Securities LLC bought a new position in Plymouth Industrial REIT during the third quarter worth $204,000. 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.