Plymouth Industrial REIT, Inc. (NYSE:PLYM) Given Consensus Rating of “Hold” by Analysts

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has been given an average rating of “Hold” by the nine brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $23.89.

Several equities analysts have recently commented on PLYM shares. Barclays lowered their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Robert W. Baird dropped their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Truist Financial cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a report on Friday, January 17th. JMP Securities reissued a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reduced their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th.

Plymouth Industrial REIT Price Performance

Shares of Plymouth Industrial REIT stock opened at $16.93 on Wednesday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. Plymouth Industrial REIT has a 52 week low of $16.33 and a 52 week high of $24.71. The stock’s 50-day simple moving average is $17.69 and its 200-day simple moving average is $20.59. The company has a market capitalization of $768.63 million, a price-to-earnings ratio of 846.70 and a beta of 1.33.

Plymouth Industrial REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.67%. The ex-dividend date of this dividend was Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio is currently 4,800.00%.

Insider Buying and Selling

In other news, Director Pendleton P. Jr. White acquired 5,000 shares of Plymouth Industrial REIT stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $18.39 per share, with a total value of $91,950.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $91,950. This trade represents a ∞ increase in their position. The acquisition was disclosed in a 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 on Friday, November 15th. The shares were acquired at an average price of $18.49 per share, with a total value of $36,980.00. Following the transaction, the chief executive officer now directly owns 252,248 shares of the company’s stock, valued at approximately $4,664,065.52. This trade represents a 0.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Plymouth Industrial REIT

Institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. increased its stake in Plymouth Industrial REIT by 9.8% in the second quarter. Envestnet Asset Management Inc. now owns 198,431 shares of the company’s stock worth $4,242,000 after purchasing an additional 17,710 shares during the period. Dimensional Fund Advisors LP increased its stake in Plymouth Industrial REIT by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company’s stock worth $11,480,000 after buying an additional 4,265 shares during the period. Marshall Wace LLP bought a new stake in Plymouth Industrial REIT during the 2nd quarter valued at about $978,000. Millennium Management LLC boosted its position in Plymouth Industrial REIT by 115.6% in the 2nd quarter. Millennium Management LLC now owns 338,894 shares of the company’s stock valued at $7,246,000 after buying an additional 181,725 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in Plymouth Industrial REIT by 431.0% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock worth $202,000 after acquiring an additional 7,668 shares in the last quarter. 92.67% of the stock is 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.