Plymouth Industrial REIT (NYSE:PLYM) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Plymouth Industrial REIT (NYSE:PLYM) has received a consensus rating of "Hold" from eleven research firms, with one sell rating, eight holds, and two buy ratings.
• Barclays raised its price target for Plymouth Industrial REIT from $18.00 to $24.00, while Truist Financial set their target at $21.00, reflecting a bullish outlook among certain analysts.
• The company recently announced a quarterly dividend of $0.24 per share, resulting in an annualized yield of 4.3% and a payout ratio of 33.33%.

Shares of Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) have been assigned a consensus recommendation of "Hold" from the eleven research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $21.3333.

A number of research firms recently weighed in on PLYM. Barclays increased their price objective on shares of Plymouth Industrial REIT from $18.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday, September 15th. Truist Financial lifted their price target on Plymouth Industrial REIT from $18.00 to $21.00 and gave the company a "hold" rating in a report on Wednesday, August 20th. Wall Street Zen upgraded Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. JMP Securities restated a "market perform" rating on shares of Plymouth Industrial REIT in a research report on Wednesday, August 20th. Finally, Wedbush upgraded Plymouth Industrial REIT to a "hold" rating in a research report on Wednesday, July 2nd.

Institutional Trading of Plymouth Industrial REIT

A number of institutional investors have recently made changes to their positions in PLYM. Parallel Advisors LLC boosted its holdings in shares of Plymouth Industrial REIT by 136.1% in the second quarter. Parallel Advisors LLC now owns 1,594 shares of the company's stock valued at $26,000 after acquiring an additional 919 shares in the last quarter. GAMMA Investing LLC lifted its position in Plymouth Industrial REIT by 233.0% in the third quarter. GAMMA Investing LLC now owns 1,605 shares of the company's stock worth $36,000 after purchasing an additional 1,123 shares during the period. Copeland Capital Management LLC boosted its stake in Plymouth Industrial REIT by 79.9% during the 1st quarter. Copeland Capital Management LLC now owns 3,509 shares of the company's stock valued at $57,000 after purchasing an additional 1,558 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of Plymouth Industrial REIT during the 1st quarter valued at $60,000. Finally, BNP Paribas Financial Markets increased its position in shares of Plymouth Industrial REIT by 65.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,834 shares of the company's stock valued at $62,000 after purchasing an additional 1,514 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Plymouth Industrial REIT Stock Down 0.2%

NYSE:PLYM opened at $22.15 on Monday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.15. The stock has a 50 day moving average of $19.57 and a 200-day moving average of $17.08. The firm has a market capitalization of $986.69 million, a PE ratio of 7.69 and a beta of 1.16. Plymouth Industrial REIT has a 52 week low of $12.70 and a 52 week high of $22.65.

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

Plymouth Industrial REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Tuesday, September 30th. Plymouth Industrial REIT's dividend payout ratio is currently 33.33%.

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.

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