Analysts Set Plymouth Industrial REIT, Inc. (NYSE:PLYM) Target Price at $21.10

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has earned an average rating of “Hold” from the ten analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $21.10.

A number of research analysts recently commented on the company. JPMorgan Chase & Co. cut their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Truist Financial dropped their price objective on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, March 24th. KeyCorp dropped their price objective on Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Wedbush set a $17.00 price target on Plymouth Industrial REIT in a report on Friday, February 28th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th.

Plymouth Industrial REIT Price Performance

Shares of PLYM opened at $15.70 on Friday. The company has a market capitalization of $715.10 million, a price-to-earnings ratio of 785.00 and a beta of 1.11. The business’s 50-day moving average is $15.59 and its 200-day moving average is $17.14. Plymouth Industrial REIT has a fifty-two week low of $12.70 and a fifty-two week high of $24.71. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12.

Plymouth Industrial REIT (NYSE:PLYM) last announced its earnings results on Thursday, May 1st. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Plymouth Industrial REIT had a return on equity of 0.20% and a net margin of 0.46%. The company had revenue of $45.57 million for the quarter, compared to the consensus estimate of $47.69 million. Equities research analysts expect that Plymouth Industrial REIT will post 1.83 EPS for the current fiscal year.

Plymouth Industrial REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a dividend of $0.24 per share. The ex-dividend date was Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 6.11%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 31.48%.

Institutional Trading of Plymouth Industrial REIT

Several institutional investors and hedge funds have recently modified their holdings of PLYM. Westwood Holdings Group Inc. increased its position in shares of Plymouth Industrial REIT by 24.5% during the 1st quarter. Westwood Holdings Group Inc. now owns 4,520,361 shares of the company’s stock valued at $73,682,000 after purchasing an additional 889,250 shares during the last quarter. JPMorgan Chase & Co. grew its position in Plymouth Industrial REIT by 1.7% during the 4th quarter. JPMorgan Chase & Co. now owns 906,149 shares of the company’s stock worth $16,129,000 after acquiring an additional 15,496 shares during the last quarter. Mesirow Institutional Investment Management Inc. bought a new position in Plymouth Industrial REIT during the 4th quarter worth approximately $10,433,000. Dimensional Fund Advisors LP grew its position in shares of Plymouth Industrial REIT by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 567,836 shares of the company’s stock worth $10,108,000 after buying an additional 9,883 shares during the last quarter. Finally, Heartland Advisors Inc. grew its position in shares of Plymouth Industrial REIT by 56.7% in the 1st quarter. Heartland Advisors Inc. now owns 549,900 shares of the company’s stock worth $8,963,000 after buying an additional 198,900 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.