Plymouth Industrial REIT (NYSE:PLYM) Receives $21.10 Average Price Target from Brokerages

Shares of Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) have been given an average recommendation of "Hold" by the ten research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $21.10.

A number of research firms have recently weighed in on PLYM. Wall Street Zen downgraded shares of Plymouth Industrial REIT from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Robert W. Baird cut their price objective on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Truist Financial decreased their target price on shares of 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. Barclays dropped their price target on Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Monday, March 31st. Finally, KeyCorp reduced their price objective on Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th.

Institutional Trading of Plymouth Industrial REIT

Several institutional investors have recently added to or reduced their stakes in PLYM. Rhumbline Advisers lifted its holdings in shares of Plymouth Industrial REIT by 1.4% during 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. Bank of New York Mellon Corp raised its position in Plymouth Industrial REIT by 22.4% in the 4th quarter. Bank of New York Mellon Corp now owns 224,504 shares of the company's stock worth $3,996,000 after buying an additional 41,033 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Plymouth Industrial REIT during the 4th quarter valued at about $194,000. Victory Capital Management Inc. lifted its stake in Plymouth Industrial REIT by 14.4% during the 4th quarter. Victory Capital Management Inc. now owns 66,000 shares of the company's stock valued at $1,175,000 after acquiring an additional 8,300 shares during the period. Finally, Vestcor Inc boosted its holdings in shares of Plymouth Industrial REIT by 6.2% during the 4th quarter. Vestcor Inc now owns 39,232 shares of the company's stock valued at $698,000 after acquiring an additional 2,306 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Plymouth Industrial REIT Stock Up 1.2%

Shares of PLYM stock traded up $0.19 during midday trading on Friday, reaching $16.25. 407,301 shares of the stock were exchanged, compared to its average volume of 335,939. Plymouth Industrial REIT has a 1 year low of $12.70 and a 1 year high of $24.71. The firm has a market cap of $740.10 million, a PE ratio of 5.33 and a beta of 1.11. The company's 50 day moving average is $15.98 and its two-hundred day moving average is $16.36. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.08.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $45.57 million for the quarter, compared to the consensus estimate of $47.69 million. Plymouth Industrial REIT had a net margin of 71.08% and a return on equity of 26.42%. On average, equities research analysts predict that Plymouth Industrial REIT will post 1.83 EPS for the current year.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.24 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.96 dividend on an annualized basis and a yield of 5.91%. Plymouth Industrial REIT's payout ratio is currently 31.48%.

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.