Plymouth Industrial REIT, Inc. (NYSE:PLYM) Receives Average Rating of “Hold” from Brokerages

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has received an average rating of “Hold” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $23.89.

PLYM has been the subject of several recent research reports. Robert W. Baird lowered 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 note on Tuesday, November 12th. Barclays lowered their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. JPMorgan Chase & Co. lowered their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. JMP Securities reiterated a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Finally, Truist Financial lowered shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research report on Friday, January 17th.

Plymouth Industrial REIT Stock Up 1.1 %

PLYM stock opened at $16.81 on Friday. 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 firm has a fifty day moving average price of $16.98 and a two-hundred day moving average price of $19.78. The firm has a market cap of $762.81 million, a price-to-earnings ratio of 840.30 and a beta of 1.33.

Plymouth Industrial REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a $0.24 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.96 annualized dividend and a yield of 5.71%. Plymouth Industrial REIT’s dividend payout ratio is presently 4,800.00%.

Institutional Trading of Plymouth Industrial REIT

Hedge funds have recently bought and sold shares of the company. Quarry LP lifted its position in Plymouth Industrial REIT by 88.4% in the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after purchasing an additional 860 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in Plymouth Industrial REIT by 3,130.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after buying an additional 1,941 shares during the period. Point72 DIFC Ltd acquired a new position in Plymouth Industrial REIT during the 3rd quarter valued at about $46,000. Quadrant Capital Group LLC increased its stake in Plymouth Industrial REIT by 38.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock valued at $54,000 after buying an additional 844 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Plymouth Industrial REIT during the 3rd quarter valued at about $123,000. 92.67% of the stock is currently owned by institutional investors.

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.