Plymouth Industrial REIT, Inc. (NYSE:PLYM) Given Average Recommendation of “Hold” by Brokerages

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have received a consensus rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $25.57.

A number of research analysts recently issued reports on the company. Truist Financial increased their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Wedbush boosted their price objective on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. JMP Securities reissued a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. BMO Capital Markets decreased their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Wednesday, August 28th. Finally, Barclays increased their price target on Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th.

Plymouth Industrial REIT Trading Down 1.3 %

Shares of NYSE:PLYM opened at $22.02 on Thursday. The firm has a market cap of $999.71 million, a price-to-earnings ratio of 51.21, a PEG ratio of 1.73 and a beta of 1.36. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.49. Plymouth Industrial REIT has a 12 month low of $19.21 and a 12 month high of $25.55. The company’s fifty day simple moving average is $23.38 and its 200 day simple moving average is $22.10.

Plymouth Industrial REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.36%. The ex-dividend date is Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is 223.26%.

Insider Buying and Selling at Plymouth Industrial REIT

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of Plymouth Industrial REIT stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the completion of the sale, the insider now owns 4,474,292 shares of the company’s stock, valued at approximately $105,503,805.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Plymouth Industrial REIT

Hedge funds have recently added to or reduced their stakes in the company. New York State Teachers Retirement System acquired a new stake in shares of Plymouth Industrial REIT during the first quarter worth $89,000. Garner Asset Management Corp bought a new stake in Plymouth Industrial REIT in the 4th quarter valued at about $98,000. EntryPoint Capital LLC grew its position in shares of Plymouth Industrial REIT by 33.9% during the 1st quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock worth $112,000 after purchasing an additional 1,266 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Plymouth Industrial REIT by 431.0% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock worth $202,000 after purchasing an additional 7,668 shares during the period. Finally, Blue Trust Inc. acquired a new stake in shares of Plymouth Industrial REIT in the second quarter valued at approximately $207,000. 92.67% of the stock is owned by institutional investors and hedge funds.

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.