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

Plymouth Industrial REIT, Inc. (NYSE:PLYMGet Free Report) has been given an average rating of “Hold” by the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $25.00.

A number of research firms have recently weighed in on PLYM. Barclays initiated coverage on Plymouth Industrial REIT in a report on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 price target for the company. Truist Financial reduced their price target on shares of Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, JMP Securities upgraded Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 target price for the company in a report on Monday, January 22nd.

Read Our Latest Stock Report on Plymouth Industrial REIT

Insider Transactions at Plymouth Industrial REIT

In other news, Director Pendleton P. White bought 4,000 shares of Plymouth Industrial REIT stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $21.58 per share, with a total value of $86,320.00. Following the acquisition, the director now owns 4,000 shares of the company’s stock, valued at $86,320. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Plymouth Industrial REIT

A number of large investors have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings in shares of Plymouth Industrial REIT by 2,306.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,155 shares of the company’s stock valued at $28,000 after acquiring an additional 1,107 shares in the last quarter. Signaturefd LLC boosted its holdings in Plymouth Industrial REIT by 40.8% in the 4th quarter. Signaturefd LLC now owns 1,731 shares of the company’s stock valued at $42,000 after purchasing an additional 502 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Plymouth Industrial REIT by 77.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,751 shares of the company’s stock worth $42,000 after buying an additional 764 shares in the last quarter. Federated Hermes Inc. grew its holdings in Plymouth Industrial REIT by 774.4% during the fourth quarter. Federated Hermes Inc. now owns 1,845 shares of the company’s stock worth $44,000 after acquiring an additional 1,634 shares during the period. Finally, New York State Teachers Retirement System acquired a new stake in Plymouth Industrial REIT in the first quarter valued at $89,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Plymouth Industrial REIT Trading Down 1.1 %

Shares of Plymouth Industrial REIT stock opened at $21.03 on Thursday. The stock’s 50 day simple moving average is $21.26 and its 200-day simple moving average is $22.06. The stock has a market cap of $954.38 million, a P/E ratio of 48.91, a P/E/G ratio of 1.60 and a beta of 1.35. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.12 and a quick ratio of 0.12. Plymouth Industrial REIT has a 1-year low of $19.21 and a 1-year high of $25.55.

Plymouth Industrial REIT (NYSE:PLYMGet Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.33). The firm had revenue of $50.23 million during the quarter, compared to analyst estimates of $50.73 million. Plymouth Industrial REIT had a net margin of 11.42% and a return on equity of 4.74%. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Analysts predict that Plymouth Industrial REIT will post 1.9 EPS for the current fiscal year.

Plymouth Industrial REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.56%. This is an increase from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. Plymouth Industrial REIT’s dividend payout ratio is presently 223.26%.

Plymouth Industrial REIT Company Profile

(Get Free Report

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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