Plymouth Industrial REIT, Inc. (NYSE:PLYM) Receives $22.44 Average Target Price from Analysts

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has been assigned a consensus rating of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $22.00.

PLYM has been the topic of several recent analyst reports. Robert W. Baird decreased their price target on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Truist Financial lowered their target price on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating for the company in a report on Monday. Wedbush set a $17.00 target price on Plymouth Industrial REIT in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th.

Institutional Trading of Plymouth Industrial REIT

A number of institutional investors have recently bought and sold shares of PLYM. Pinebridge Investments L.P. raised its position in shares of Plymouth Industrial REIT by 4.3% during the 4th quarter. Pinebridge Investments L.P. now owns 18,688 shares of the company’s stock worth $333,000 after acquiring an additional 773 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Plymouth Industrial REIT by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company’s stock worth $406,000 after buying an additional 817 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Plymouth Industrial REIT by 38.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock worth $54,000 after buying an additional 844 shares during the last quarter. Quarry LP grew its position in shares of Plymouth Industrial REIT by 88.4% in the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after buying an additional 860 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Plymouth Industrial REIT by 1.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock valued at $1,064,000 after buying an additional 900 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Plymouth Industrial REIT Stock Up 1.4 %

PLYM stock opened at $16.97 on Thursday. The firm has a market cap of $773.14 million, a PE ratio of 848.65 and a beta of 1.45. Plymouth Industrial REIT has a one year low of $16.06 and a one year high of $24.71. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. The firm’s 50 day moving average price is $16.83 and its 200-day moving average price is $18.87.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.66%. The ex-dividend date of this dividend is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 31.37%.

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.