Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $25.00.
Several research firms recently weighed in on PLYM. Truist Financial decreased their price objective 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. JMP Securities upgraded shares of Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 price target for the company in a report on Monday, January 22nd. Finally, Barclays initiated coverage on shares of Plymouth Industrial REIT in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 price objective on the stock.
View Our Latest Stock Report on Plymouth Industrial REIT
Plymouth Industrial REIT Stock Up 2.0 %
Plymouth Industrial REIT Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.96 annualized dividend and a dividend yield of 4.53%. This is an increase from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. Plymouth Industrial REIT’s dividend payout ratio is 505.26%.
Insider Buying and Selling
In related news, Director Pendleton P. White purchased 4,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $21.58 per share, for a total transaction of $86,320.00. Following the purchase, the director now owns 4,000 shares of the company’s stock, valued at approximately $86,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.
Institutional Investors Weigh In On Plymouth Industrial REIT
A number of institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC raised its position in Plymouth Industrial REIT by 2,306.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,155 shares of the company’s stock worth $28,000 after buying an additional 1,107 shares during the last quarter. Spirit of America Management Corp NY purchased a new position in shares of Plymouth Industrial REIT during the third quarter worth $31,000. Signaturefd LLC lifted its position in Plymouth Industrial REIT by 40.8% during the fourth quarter. Signaturefd LLC now owns 1,731 shares of the company’s stock valued at $42,000 after purchasing an additional 502 shares during the period. Quadrant Capital Group LLC boosted its holdings in Plymouth Industrial REIT by 77.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,751 shares of the company’s stock valued at $42,000 after purchasing an additional 764 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Plymouth Industrial REIT by 774.4% during the 4th quarter. Federated Hermes Inc. now owns 1,845 shares of the company’s stock worth $44,000 after purchasing an additional 1,634 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.
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.
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