Plymouth Industrial REIT (NYSE:PLYM) Shares Gap Up - Should You Buy?

Key Points

• Shares of Plymouth Industrial REIT (NYSE:PLYM) gapped up from a previous close of $14.64 to open at $22.11, trading at $22.34 with a volume of over 2.4 million shares.
• Analysts have a consensus rating of "Hold" on the stock, with three ratings as "Buy," five as "Hold," and one as "Sell," and a price target of $20.44.
• Plymouth Industrial REIT recently declared a quarterly dividend of $0.24 per share, indicating a 4.4% yield, with a payout ratio of 33.33%.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $14.64, but opened at $22.11. Plymouth Industrial REIT shares last traded at $22.34, with a volume of 2,405,203 shares changing hands.

Wall Street Analyst Weigh In

PLYM has been the subject of several research reports. Citizens Jmp cut shares of Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. BMO Capital Markets upped their price target on shares of Plymouth Industrial REIT from $17.00 to $24.00 and gave the stock a "market perform" rating in a research report on Thursday. Wall Street Zen raised shares of Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. JMP Securities reaffirmed a "market perform" rating on shares of Plymouth Industrial REIT in a research report on Wednesday. Finally, Truist Financial upped their price target on shares of Plymouth Industrial REIT from $18.00 to $21.00 and gave the stock a "hold" rating in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $20.67.

Plymouth Industrial REIT Price Performance

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 market cap of $942.01 million, a PE ratio of 7.34 and a beta of 1.11. The firm's 50-day moving average price is $16.03 and its two-hundred day moving average price is $16.00.

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, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $47.20 million during the quarter, compared to analyst estimates of $46.20 million. Plymouth Industrial REIT had a net margin of 67.77% and a return on equity of 24.24%. On average, equities analysts expect that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, June 30th. Plymouth Industrial REIT's payout ratio is 33.33%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in Plymouth Industrial REIT by 20.5% during the 4th quarter. Wells Fargo & Company MN now owns 23,750 shares of the company's stock valued at $423,000 after purchasing an additional 4,038 shares in the last quarter. Invesco Ltd. increased its stake in Plymouth Industrial REIT by 120.6% during the 4th quarter. Invesco Ltd. now owns 151,769 shares of the company's stock valued at $2,701,000 after purchasing an additional 82,965 shares in the last quarter. Legal & General Group Plc increased its stake in shares of 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 during the period. Barclays PLC increased its stake in shares of Plymouth Industrial REIT by 37.7% in the fourth quarter. Barclays PLC now owns 86,919 shares of the company's stock worth $1,548,000 after acquiring an additional 23,818 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Plymouth Industrial REIT by 40.4% in the fourth quarter. Marshall Wace LLP now owns 157,397 shares of the company's stock worth $2,802,000 after acquiring an additional 45,256 shares during the period. Institutional investors 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.