Analysts Set Plymouth Industrial REIT, Inc. (NYSE:PLYM) Price Target at $25.57

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have been given a consensus rating of “Hold” by the seven research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $25.57.

A number of equities analysts have weighed in on PLYM shares. Wedbush increased their target price on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lowered their target price on shares of Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Truist Financial lifted their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. JMP Securities reiterated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. Finally, B. Riley lifted their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a report on Monday, August 5th.

Plymouth Industrial REIT Stock Performance

NYSE PLYM opened at $21.25 on Monday. Plymouth Industrial REIT has a 52-week low of $19.21 and a 52-week high of $25.55. The company has a 50-day simple moving average of $22.78 and a 200 day simple moving average of $22.06. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $964.75 million, a PE ratio of 39.33, a price-to-earnings-growth ratio of 1.63 and a beta of 1.36.

Plymouth Industrial REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.52%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 177.78%.

Insider Activity at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $23.58, for a total value of $13,285,868.04. Following the completion of the transaction, the insider now directly owns 4,474,292 shares in the company, valued at $105,503,805.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. bought a new position in shares of Plymouth Industrial REIT during the 3rd quarter valued at approximately $202,000. Copeland Capital Management LLC bought a new position in shares of Plymouth Industrial REIT during the 3rd quarter valued at approximately $43,000. SG Americas Securities LLC bought a new position in shares of Plymouth Industrial REIT during the 3rd quarter valued at approximately $204,000. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Plymouth Industrial REIT by 431.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock valued at $202,000 after acquiring an additional 7,668 shares during the last quarter. Finally, Meros Investment Management LP boosted its position in shares of Plymouth Industrial REIT by 38.2% during the 2nd quarter. Meros Investment Management LP now owns 402,923 shares of the company’s stock valued at $8,614,000 after acquiring an additional 111,339 shares during the last quarter. 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.