Plymouth Industrial REIT, Inc. (NYSE:PLYM) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM - Get Free Report) have been assigned a consensus rating of "Hold" from the ten research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $21.10.

Several equities research analysts recently weighed in on the company. Barclays decreased their price target on Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating for the company in a report on Monday, March 31st. Wedbush set a $17.00 target price on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. KeyCorp reduced their target price on shares of 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. Robert W. Baird reduced their price objective on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Finally, Truist Financial reduced 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.

Plymouth Industrial REIT Stock Performance

Shares of PLYM traded up $0.30 during mid-day trading on Tuesday, hitting $16.22. 217,040 shares of the company's stock were exchanged, compared to its average volume of 319,807. Plymouth Industrial REIT has a fifty-two week low of $12.70 and a fifty-two week high of $24.71. The firm has a market capitalization of $738.56 million, a P/E ratio of 810.75 and a beta of 1.12. The business's 50 day moving average is $15.29 and its two-hundred day moving average is $16.67. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.44 earnings per share 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 analyst estimates of $47.69 million. On average, equities analysts expect that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Announces Dividend

The company 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 of this dividend was Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 5.92%. Plymouth Industrial REIT's dividend payout ratio is presently 31.48%.

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pinebridge Investments L.P. raised its holdings in Plymouth Industrial REIT by 4.3% in the 4th quarter. Pinebridge Investments L.P. now owns 18,688 shares of the company's stock valued at $333,000 after acquiring an additional 773 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Plymouth Industrial REIT by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company's stock worth $406,000 after acquiring an additional 817 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Plymouth Industrial REIT by 38.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company's stock worth $54,000 after acquiring an additional 844 shares during the last quarter. D.A. Davidson & CO. increased its stake in Plymouth Industrial REIT by 1.6% during the first quarter. D.A. Davidson & CO. now owns 58,905 shares of the company's stock worth $960,000 after acquiring an additional 949 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Plymouth Industrial REIT by 2.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company's stock worth $736,000 after acquiring an additional 952 shares during the last quarter. Institutional investors and hedge funds 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.