Barclays Issues Positive Forecast for Plymouth Industrial REIT (NYSE:PLYM) Stock Price

Key Points

• Barclays analysts have raised the price target for Plymouth Industrial REIT (NYSE:PLYM) from $18.00 to $24.00, indicating a potential upside of 8.98% from the current price.
• The stock currently holds a consensus rating of "Hold", with two analysts recommending a Buy, seven a Hold, and one a Sell rating.
• Plymouth Industrial REIT reported earnings of $0.46 per share for the last quarter, surpassing the consensus estimate, with revenue reaching $47.20 million.

Plymouth Industrial REIT (NYSE:PLYM - Free Report) had its price target hoisted by Barclays from $18.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research analysts also recently weighed in on the stock. Wall Street Zen upgraded shares of Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Wedbush raised shares of Plymouth Industrial REIT to a "hold" rating in a report on Wednesday, July 2nd. 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, August 20th. Citizens Jmp cut shares of Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Finally, BMO Capital Markets raised their target price on shares of Plymouth Industrial REIT from $17.00 to $24.00 and gave the stock a "market perform" rating in a report on Thursday, August 21st. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Plymouth Industrial REIT has a consensus rating of "Hold" and an average price target of $21.33.

Plymouth Industrial REIT Stock Performance

Shares of NYSE:PLYM traded down $0.04 during midday trading on Monday, hitting $21.96. The stock had a trading volume of 486,900 shares, compared to its average volume of 500,030. 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 company has a market capitalization of $978.41 million, a PE ratio of 7.64 and a beta of 1.17. The stock has a 50 day moving average price of $18.18 and a two-hundred day moving average price of $16.70. Plymouth Industrial REIT has a 1 year low of $12.70 and a 1 year high of $23.10.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. The company had revenue of $47.20 million during the quarter, compared to analysts' expectations of $46.20 million. Plymouth Industrial REIT had a net margin of 67.77% and a return on equity of 24.24%. As a group, equities analysts predict that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, September 30th. Plymouth Industrial REIT's dividend payout ratio (DPR) is 33.33%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PLYM. Parallel Advisors LLC increased its stake in Plymouth Industrial REIT by 136.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,594 shares of the company's stock worth $26,000 after purchasing an additional 919 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Plymouth Industrial REIT by 6,862.5% during the 1st quarter. GAMMA Investing LLC now owns 3,342 shares of the company's stock worth $54,000 after acquiring an additional 3,294 shares in the last quarter. Copeland Capital Management LLC grew its stake in shares of Plymouth Industrial REIT by 79.9% during the 1st quarter. Copeland Capital Management LLC now owns 3,509 shares of the company's stock worth $57,000 after acquiring an additional 1,558 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of Plymouth Industrial REIT during the 1st quarter worth approximately $60,000. Finally, BNP Paribas Financial Markets grew its stake 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 worth $62,000 after acquiring an additional 1,514 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

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.