Plymouth Industrial REIT (NYSE:PLYM) Receives Average Rating of "Hold" from Analysts

Key Points

• Plymouth Industrial REIT has been given an average rating of "Hold" by ten research firms, with one sell, seven hold, and two buy ratings noted.
• Equities research analysts have increased their price target for the stock, with BMO Capital Markets raising their projection from $17.00 to $24.00.
• The company declared a quarterly dividend of $0.24 per share, resulting in an annualized dividend yield of 4.3% and a payout ratio of 33.33%.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) has been assigned an average rating of "Hold" from the ten research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $20.6667.

A number of equities analysts recently weighed in on PLYM shares. Citizens Jmp lowered shares of Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Wall Street Zen raised shares of Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. BMO Capital Markets lifted their target price on shares of Plymouth Industrial REIT from $17.00 to $24.00 and gave the company a "market perform" rating in a report on Thursday, August 21st. JMP Securities reaffirmed a "market perform" rating on shares of Plymouth Industrial REIT in a report on Wednesday, August 20th. Finally, Truist Financial lifted their price objective on Plymouth Industrial REIT from $18.00 to $21.00 and gave the company a "hold" rating in a report on Wednesday, August 20th.

Institutional Investors Weigh In On Plymouth Industrial REIT

Institutional investors have recently made changes to their positions in the stock. Westwood Holdings Group Inc. boosted its stake in shares of Plymouth Industrial REIT by 33.0% during the 4th quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company's stock worth $64,634,000 after acquiring an additional 901,251 shares in the last quarter. MetLife Investment Management LLC boosted its position in Plymouth Industrial REIT by 2,406.8% during the first quarter. MetLife Investment Management LLC now owns 656,826 shares of the company's stock worth $10,706,000 after purchasing an additional 630,624 shares in the last quarter. Strs Ohio purchased a new stake in Plymouth Industrial REIT during the first quarter worth $6,652,000. Peregrine Capital Management LLC purchased a new stake in Plymouth Industrial REIT during the first quarter worth $5,199,000. Finally, BROOKFIELD Corp ON purchased a new stake in shares of Plymouth Industrial REIT in the 1st quarter worth about $3,894,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Plymouth Industrial REIT Stock Performance

NYSE PLYM opened at $22.12 on Thursday. The company has a quick ratio of 0.13, a current 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 $23.40. The business's 50-day moving average price is $17.48 and its 200 day moving average price is $16.49. The firm has a market cap of $985.22 million, a P/E ratio of 7.68 and a beta of 1.17.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. Plymouth Industrial REIT had a return on equity of 24.24% and a net margin of 67.77%.The company had revenue of $47.20 million for the quarter, compared to the consensus estimate of $46.20 million. On average, equities research analysts expect that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid 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 4.3%. Plymouth Industrial REIT's payout ratio is 33.33%.

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.

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