Plymouth Industrial REIT, Inc. (NYSE:PLYM) Given Average Rating of "Hold" by Analysts

Plymouth Industrial REIT, Inc. (NYSE:PLYM - Get Free Report) has received an average recommendation of "Hold" from the ten brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $21.10.

Several analysts have issued reports on PLYM shares. JPMorgan Chase & Co. cut their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an "underweight" rating on the stock in a report on Tuesday, January 14th. KeyCorp lowered their price objective on Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Barclays dropped their price objective on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating for the company in a research report on Monday, March 31st. Robert W. Baird reduced their price target on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Thursday. Finally, Wedbush set a $17.00 price objective on shares of Plymouth Industrial REIT in a research note on Friday, February 28th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PLYM. Legal & General Group Plc raised its position in Plymouth Industrial REIT by 17.3% in the fourth quarter. Legal & General Group Plc now owns 41,472 shares of the company's stock worth $738,000 after acquiring an additional 6,119 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Plymouth Industrial REIT by 30.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 11,628 shares of the company's stock valued at $207,000 after purchasing an additional 2,697 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Plymouth Industrial REIT by 8.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 890,653 shares of the company's stock worth $20,129,000 after acquiring an additional 66,886 shares during the period. Rhumbline Advisers lifted its holdings in shares of Plymouth Industrial REIT by 1.4% in the fourth quarter. Rhumbline Advisers now owns 73,529 shares of the company's stock valued at $1,309,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Barclays PLC grew its position in Plymouth Industrial REIT by 321.2% in the third quarter. Barclays PLC now owns 63,101 shares of the company's stock worth $1,426,000 after acquiring an additional 48,119 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Plymouth Industrial REIT Trading Up 1.0 %

Shares of NYSE PLYM traded up $0.15 during midday trading on Friday, reaching $15.70. 284,538 shares of the stock were exchanged, compared to its average volume of 313,483. The company has a 50 day simple moving average of $15.59 and a 200 day simple moving average of $17.17. Plymouth Industrial REIT has a twelve month low of $12.70 and a twelve month high of $24.71. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a market capitalization of $715.10 million, a P/E ratio of 785.00 and a beta of 1.11.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last announced 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 business had revenue of $45.57 million for the quarter, compared to analyst estimates of $47.69 million. As a group, equities analysts expect that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were paid a $0.24 dividend. 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 is currently 31.48%.

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.