Analysts Set Plymouth Industrial REIT, Inc. (NYSE:PLYM) Target Price at $23.89

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have been given a consensus recommendation of “Hold” by the nine analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $23.89.

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. BNP Paribas lowered shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective for the company. in a report on Friday, November 8th. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Robert W. Baird lowered their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Truist Financial cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research note on Friday, January 17th.

Insider Activity at Plymouth Industrial REIT

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its position in Plymouth Industrial REIT by 9.8% during the second quarter. Envestnet Asset Management Inc. now owns 198,431 shares of the company’s stock valued at $4,242,000 after purchasing an additional 17,710 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Plymouth Industrial REIT by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company’s stock valued at $11,480,000 after buying an additional 4,265 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Plymouth Industrial REIT during the 2nd quarter valued at approximately $978,000. Millennium Management LLC increased its holdings in Plymouth Industrial REIT by 115.6% in the 2nd quarter. Millennium Management LLC now owns 338,894 shares of the company’s stock worth $7,246,000 after acquiring an additional 181,725 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in Plymouth Industrial REIT by 431.0% during the 2nd 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 during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Trading Up 1.0 %

Shares of PLYM stock opened at $16.93 on Wednesday. The business has a 50-day moving average price of $17.69 and a two-hundred day moving average price of $20.59. Plymouth Industrial REIT has a 12-month low of $16.33 and a 12-month 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 cap of $768.63 million, a P/E ratio of 846.70 and a beta of 1.33.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.67%. Plymouth Industrial REIT’s payout ratio is presently 4,800.00%.

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.