Plymouth Industrial REIT, Inc. (PLYM) To Go Ex-Dividend on March 31st

Plymouth Industrial REIT, Inc. (NYSE:PLYM) declared a quarterly dividend on Friday, March 14th, RTT News reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.24 per share on Wednesday, April 30th. This represents a $0.96 annualized dividend and a yield of 5.70%. The ex-dividend date is Monday, March 31st.

Plymouth Industrial REIT has a dividend payout ratio of 1,285.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Plymouth Industrial REIT to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 46.2%.

Plymouth Industrial REIT Price Performance

PLYM stock opened at $16.84 on Friday. The stock has a market cap of $766.90 million, a PE ratio of 841.80 and a beta of 1.45. Plymouth Industrial REIT has a 12 month low of $16.06 and a 12 month high of $24.71. The company has a 50-day moving average price of $16.83 and a 200 day moving average price of $18.81. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Robert W. Baird cut their price target on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Truist Financial lowered their price objective on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Monday, March 24th. Finally, Wedbush set a $17.00 target price on shares of Plymouth Industrial REIT in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.00.

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.