Plymouth Industrial REIT, Inc. (NYSE:PLYM) Receives $24.33 Consensus Price Target from Analysts

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has been given an average rating of “Hold” by the nine brokerages that are covering the firm, Marketbeat Ratings 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 target price among brokerages that have issued ratings on the stock in the last year is $24.33.

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

Insider Buying and Selling at Plymouth Industrial REIT

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

Institutional Investors Weigh In On Plymouth Industrial REIT

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP increased its holdings in Plymouth Industrial REIT by 88.4% in the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after purchasing an additional 860 shares in the last quarter. Copeland Capital Management LLC acquired a new position in shares of Plymouth Industrial REIT in the third quarter valued at approximately $43,000. Loomis Sayles & Co. L P raised its holdings in Plymouth Industrial REIT by 3,130.6% in 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 last quarter. Point72 DIFC Ltd acquired a new stake in Plymouth Industrial REIT during the 3rd quarter worth approximately $46,000. Finally, Point72 Hong Kong Ltd bought a new stake in Plymouth Industrial REIT during the 3rd quarter worth approximately $123,000. 92.67% of the stock is owned by institutional investors.

Plymouth Industrial REIT Stock Performance

Shares of PLYM stock opened at $17.22 on Friday. The company has a fifty day moving average price of $18.86 and a two-hundred day moving average price of $21.35. Plymouth Industrial REIT has a one year low of $17.20 and a one year high of $24.71. The stock has a market cap of $781.60 million, a P/E ratio of 861.00, a P/E/G ratio of 1.47 and a beta of 1.34. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 annualized dividend and a yield of 5.57%. Plymouth Industrial REIT’s dividend payout ratio is 4,800.00%.

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.