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

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $25.00.

PLYM has been the subject of several research reports. Truist Financial reduced their target price on Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Barclays began coverage on Plymouth Industrial REIT in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $22.00 price objective for the company. Finally, JMP Securities raised shares of Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a report on Monday, January 22nd.

Insider Transactions at Plymouth Industrial REIT

In other news, Director Pendleton P. White purchased 4,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $21.58 per share, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Plymouth Industrial REIT

A number of institutional investors have recently modified their holdings of the business. New York State Teachers Retirement System acquired a new stake in Plymouth Industrial REIT in the first quarter valued at $89,000. State of Alaska Department of Revenue increased its holdings in shares of Plymouth Industrial REIT by 4.0% in the 1st quarter. State of Alaska Department of Revenue now owns 21,590 shares of the company’s stock valued at $484,000 after purchasing an additional 832 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Plymouth Industrial REIT by 1.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 42,914 shares of the company’s stock valued at $966,000 after purchasing an additional 578 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Plymouth Industrial REIT by 5.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 242,794 shares of the company’s stock worth $5,463,000 after buying an additional 11,823 shares in the last quarter. Finally, Pensionfund Sabic grew its position in Plymouth Industrial REIT by 12.8% during the first quarter. Pensionfund Sabic now owns 44,027 shares of the company’s stock worth $991,000 after buying an additional 5,000 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Plymouth Industrial REIT Price Performance

Shares of PLYM opened at $20.65 on Friday. 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 1-year low of $19.21 and a 1-year high of $25.55. The stock has a market cap of $937.10 million, a PE ratio of 108.68, a price-to-earnings-growth ratio of 1.58 and a beta of 1.36. The firm has a fifty day moving average price of $21.57 and a 200 day moving average price of $21.98.

Plymouth Industrial REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a yield of 4.65%. This is an increase from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. Plymouth Industrial REIT’s dividend payout ratio is presently 505.26%.

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.