Plymouth Industrial REIT, Inc. (NYSE:PLYM) Receives $25.00 Consensus Target Price from Analysts

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $25.00.

Several research firms have recently issued reports on PLYM. JMP Securities upgraded shares of Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a report on Monday, January 22nd. Truist Financial dropped their price objective on shares of Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Finally, Barclays began coverage on shares of Plymouth Industrial REIT in a report on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 price objective on the stock.

Plymouth Industrial REIT Stock Up 0.5 %

Plymouth Industrial REIT stock opened at $20.76 on Friday. The firm has a market cap of $942.09 million, a price-to-earnings ratio of 109.26, a P/E/G ratio of 1.54 and a beta of 1.36. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.11 and a quick ratio of 0.11. Plymouth Industrial REIT has a fifty-two week low of $19.21 and a fifty-two week high of $25.55. The firm has a fifty day moving average price of $21.54 and a two-hundred day moving average price of $21.98.

Plymouth Industrial REIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a yield of 4.62%. This is a boost from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. Plymouth Industrial REIT’s payout ratio is presently 505.26%.

Insider Activity at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, Director Pendleton P. White bought 4,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $21.58 per share, with a total value of $86,320.00. Following the completion of the purchase, the director now directly owns 4,000 shares in the company, valued at approximately $86,320. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Plymouth Industrial REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Plymouth Industrial REIT during the third quarter worth about $390,000. Spirit of America Management Corp NY bought a new stake in Plymouth Industrial REIT during the third quarter worth about $31,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Plymouth Industrial REIT by 35.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,559 shares of the company’s stock worth $221,000 after buying an additional 2,762 shares during the last quarter. Jennison Associates LLC grew its stake in Plymouth Industrial REIT by 13.9% during the third quarter. Jennison Associates LLC now owns 3,139,434 shares of the company’s stock worth $65,771,000 after buying an additional 383,336 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Plymouth Industrial REIT by 34.3% during the third quarter. Teacher Retirement System of Texas now owns 20,089 shares of the company’s stock worth $421,000 after buying an additional 5,135 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

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.