Brokerages Set Plymouth Industrial REIT, Inc. (NYSE:PLYM) PT at $24.33

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have been assigned an average rating of “Hold” from the nine brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $24.33.

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

Plymouth Industrial REIT Stock Performance

Shares of NYSE PLYM opened at $16.96 on Friday. The stock’s 50-day moving average is $18.72 and its 200 day moving average is $21.29. The stock has a market cap of $769.80 million, a price-to-earnings ratio of 848.00, a P/E/G ratio of 1.47 and a beta of 1.34. Plymouth Industrial REIT has a 1-year low of $16.92 and a 1-year high of $24.71. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.24 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.66%. Plymouth Industrial REIT’s payout ratio is presently 4,800.00%.

Insider Activity at Plymouth Industrial REIT

In related news, Director Pendleton P. Jr. White acquired 5,000 shares of the firm’s stock in a transaction 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 acquisition, the director now owns 5,000 shares of the company’s stock, valued at $91,950. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey E. Witherell bought 2,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $18.49 per share, with a total value of $36,980.00. Following the completion of the transaction, the chief executive officer now owns 252,248 shares in the company, valued at approximately $4,664,065.52. This trade represents a 0.80 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Plymouth Industrial REIT

Institutional investors have recently bought and sold shares of the stock. Quarry LP boosted its position in Plymouth Industrial REIT by 88.4% during the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after acquiring an additional 860 shares in the last quarter. Copeland Capital Management LLC bought a new stake in shares of Plymouth Industrial REIT during the third quarter valued at approximately $43,000. Loomis Sayles & Co. L P boosted its position in shares of Plymouth Industrial REIT by 3,130.6% during the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after purchasing an additional 1,941 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Plymouth Industrial REIT in the third quarter worth $46,000. Finally, Point72 Hong Kong Ltd bought a new position in Plymouth Industrial REIT in the third quarter worth $123,000. 92.67% of the stock is owned by 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.