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

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has been given a consensus rating of “Hold” by the nine analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $22.00.

Several analysts have recently weighed in on PLYM shares. JMP Securities restated a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. Truist Financial dropped their price target on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Monday. JPMorgan Chase & Co. cut their price objective 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. Wedbush set a $17.00 price objective on Plymouth Industrial REIT in a report on Friday, February 28th. Finally, Robert W. Baird cut their target price on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PLYM. Public Employees Retirement System of Ohio raised its holdings in Plymouth Industrial REIT by 25.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 258,599 shares of the company’s stock valued at $4,603,000 after buying an additional 53,012 shares during the last quarter. PharVision Advisers LLC purchased a new position in shares of Plymouth Industrial REIT in the fourth quarter valued at about $241,000. Westwood Holdings Group Inc. raised its stake in shares of Plymouth Industrial REIT by 33.0% during the fourth quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company’s stock valued at $64,634,000 after acquiring an additional 901,251 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Plymouth Industrial REIT by 0.6% during the fourth quarter. Two Sigma Advisers LP now owns 185,700 shares of the company’s stock worth $3,305,000 after purchasing an additional 1,100 shares during the period. Finally, Tidal Investments LLC grew its stake in shares of Plymouth Industrial REIT by 14.7% in the fourth quarter. Tidal Investments LLC now owns 26,889 shares of the company’s stock worth $479,000 after purchasing an additional 3,456 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Trading Up 0.5 %

Shares of PLYM opened at $17.09 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. Plymouth Industrial REIT has a 1-year low of $16.06 and a 1-year high of $24.71. The company has a market capitalization of $778.47 million, a P/E ratio of 854.50 and a beta of 1.45. The firm’s 50 day simple moving average is $16.84 and its 200 day simple moving average is $18.93.

Plymouth Industrial REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 5.62%. Plymouth Industrial REIT’s payout ratio is currently 31.37%.

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.