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

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has received an average recommendation of “Hold” from the nine analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $25.22.

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. B. Riley increased their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Robert W. Baird cut 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 report on Tuesday. Finally, Wedbush lifted their price target on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, August 5th.

Insider Activity at Plymouth Industrial REIT

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of Plymouth Industrial REIT stock in a transaction dated 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 approximately $105,503,805.36. This trade represents a 11.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PLYM. Copeland Capital Management LLC acquired a new stake in Plymouth Industrial REIT during the third quarter worth about $43,000. Loomis Sayles & Co. L P grew its position 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 in the last quarter. EntryPoint Capital LLC boosted its holdings in shares of Plymouth Industrial REIT by 33.9% in the first quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock valued at $112,000 after acquiring an additional 1,266 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Plymouth Industrial REIT during the third quarter worth about $123,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Plymouth Industrial REIT during the 3rd quarter valued at about $202,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Performance

Shares of PLYM opened at $18.62 on Friday. The stock has a 50-day simple moving average of $21.72 and a 200-day simple moving average of $22.01. The stock has a market capitalization of $845.27 million, a PE ratio of 931.00, a PEG ratio of 1.53 and a beta of 1.37. Plymouth Industrial REIT has a 1 year low of $18.55 and a 1 year high of $25.55. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.16 and a current ratio of 0.16.

Plymouth Industrial REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date was Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is currently 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.