Plymouth Industrial REIT (NYSE:PLYM) Receives $20.44 Average Target Price from Brokerages

Key Points

• Plymouth Industrial REIT has an average rating of "Hold" from nine research firms, with one sell rating, five hold ratings, and three buy ratings.
• The stock has a 12-month target price of approximately $20.44 and is currently trading at around $14.97, with a 52-week low of $12.70 and a high of $24.70.
• Plymouth Industrial REIT has announced a quarterly dividend of $0.24 per share, representing an annualized yield of 6.4% and a payout ratio of 33.33%.

Shares of Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) have received a consensus recommendation of "Hold" from the nine analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $20.4444.

A number of equities analysts have recently weighed in on PLYM shares. Wall Street Zen upgraded Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a report on Saturday. Wedbush upgraded Plymouth Industrial REIT to a "hold" rating in a report on Wednesday, July 2nd. Finally, Robert W. Baird dropped their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th.

Plymouth Industrial REIT Trading Up 47.2%

PLYM stock traded up $6.9080 during mid-day trading on Friday, reaching $21.5480. 6,799,951 shares of the stock traded hands, compared to its average volume of 411,120. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.15. Plymouth Industrial REIT has a 52-week low of $12.70 and a 52-week high of $24.70. The company has a market cap of $959.96 million, a P/E ratio of 7.48 and a beta of 1.11. The stock's fifty day moving average is $15.66 and its 200-day moving average is $15.87.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. Plymouth Industrial REIT had a net margin of 67.77% and a return on equity of 24.24%. The company had revenue of $47.20 million during the quarter, compared to analyst estimates of $46.20 million. As a group, sell-side analysts expect that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were issued a $0.24 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.5%. Plymouth Industrial REIT's dividend payout ratio is currently 33.33%.

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of hedge funds have recently added to or reduced their stakes in PLYM. Westwood Holdings Group Inc. increased its holdings in Plymouth Industrial REIT by 33.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company's stock worth $64,634,000 after buying an additional 901,251 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of Plymouth Industrial REIT by 2,406.8% in the first quarter. MetLife Investment Management LLC now owns 656,826 shares of the company's stock valued at $10,706,000 after acquiring an additional 630,624 shares during the period. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Plymouth Industrial REIT in the fourth quarter valued at approximately $10,433,000. Adage Capital Partners GP L.L.C. bought a new position in Plymouth Industrial REIT in the fourth quarter worth $9,612,000. Finally, Strs Ohio bought a new position in Plymouth Industrial REIT in the first quarter worth $6,652,000. Institutional investors and hedge funds own 92.67% of the company's stock.

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.