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

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have been assigned an average recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $22.00.

A number of equities analysts recently issued reports on PLYM shares. Robert W. Baird lowered their price target on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. JMP Securities reissued a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Truist Financial decreased their price target on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating for the company in a report on Monday. Wedbush set a $17.00 target price on shares of Plymouth Industrial REIT in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. lowered their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th.

Plymouth Industrial REIT Trading Up 1.4 %

PLYM opened at $16.97 on Thursday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. Plymouth Industrial REIT has a 52 week low of $16.06 and a 52 week high of $24.71. The business’s 50 day moving average is $16.83 and its two-hundred day moving average is $18.87. The firm has a market cap of $773.14 million, a price-to-earnings ratio of 848.65 and a beta of 1.45.

Plymouth Industrial REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.66%. The ex-dividend date is Monday, March 31st. Plymouth Industrial REIT’s payout ratio is currently 31.37%.

Institutional Trading of Plymouth Industrial REIT

A number of institutional investors have recently bought and sold shares of the company. Pinebridge Investments L.P. increased its position in shares of Plymouth Industrial REIT by 4.3% in the fourth quarter. Pinebridge Investments L.P. now owns 18,688 shares of the company’s stock valued at $333,000 after buying an additional 773 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Plymouth Industrial REIT by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company’s stock valued at $406,000 after acquiring an additional 817 shares during the last quarter. Quadrant Capital Group LLC increased its holdings 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 acquiring an additional 844 shares in the last quarter. Quarry LP raised its position in Plymouth Industrial REIT by 88.4% during the third quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after acquiring an additional 860 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Plymouth Industrial REIT by 1.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock valued at $1,064,000 after purchasing an additional 900 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

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.