Plymouth Industrial REIT, Inc. (NYSE:PLYM) Given Consensus Rating of “Hold” by Brokerages

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has been given a consensus rating of “Hold” by the ten ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $21.20.

Several equities analysts recently commented on PLYM shares. Truist Financial dropped their target price on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, March 24th. Robert W. Baird lowered their target price on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Barclays cut their price target on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, March 31st. Wedbush set a $17.00 price objective on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. Finally, JMP Securities restated a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Westwood Holdings Group Inc. lifted its holdings in Plymouth Industrial REIT by 33.0% in the 4th quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company’s stock worth $64,634,000 after buying an additional 901,251 shares in the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in shares of Plymouth Industrial REIT in the fourth quarter worth about $10,433,000. Adage Capital Partners GP L.L.C. purchased a new position in Plymouth Industrial REIT in the fourth quarter valued at about $9,612,000. Thompson Siegel & Walmsley LLC acquired a new stake in Plymouth Industrial REIT during the 4th quarter valued at approximately $7,443,000. Finally, Heartland Advisors Inc. increased its holdings in Plymouth Industrial REIT by 75.5% during the 4th quarter. Heartland Advisors Inc. now owns 351,000 shares of the company’s stock worth $6,248,000 after purchasing an additional 151,000 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Plymouth Industrial REIT Stock Up 1.6 %

PLYM stock opened at $14.54 on Monday. The company has a 50 day moving average price of $16.10 and a two-hundred day moving average price of $17.87. 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 stock has a market capitalization of $662.31 million, a P/E ratio of 727.00 and a beta of 1.19. Plymouth Industrial REIT has a one year low of $12.70 and a one year high of $24.71.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.60%. Plymouth Industrial REIT’s dividend payout ratio is currently 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.