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

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has been assigned an average recommendation of “Hold” from the nine analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $24.33.

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

Plymouth Industrial REIT Trading Down 2.5 %

Plymouth Industrial REIT stock opened at $16.56 on Friday. Plymouth Industrial REIT has a 52-week low of $16.37 and a 52-week high of $24.71. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $751.64 million, a price-to-earnings ratio of 828.00, a PEG ratio of 1.47 and a beta of 1.34. The firm has a 50-day moving average price of $18.58 and a two-hundred day moving average price of $21.23.

Plymouth Industrial REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend is Tuesday, December 31st. Plymouth Industrial REIT’s payout ratio is 4,800.00%.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC lifted its position in shares of Plymouth Industrial REIT by 115.6% in the 2nd quarter. Millennium Management LLC now owns 338,894 shares of the company’s stock valued at $7,246,000 after acquiring an additional 181,725 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 valued at $20,583,000 after purchasing an additional 180,003 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Plymouth Industrial REIT by 4.1% in the third quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock worth $99,471,000 after buying an additional 174,836 shares during the period. Foundry Partners LLC purchased a new position in shares of Plymouth Industrial REIT during the third quarter valued at $3,725,000. Finally, Meros Investment Management LP raised its position in Plymouth Industrial REIT by 38.2% during the second quarter. Meros Investment Management LP now owns 402,923 shares of the company’s stock valued at $8,614,000 after buying an additional 111,339 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.