Plymouth Industrial REIT, Inc. (NYSE:PLYM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $25.00.

Several brokerages recently weighed in on PLYM. JMP Securities raised Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a research report on Monday, January 22nd. Truist Financial cut their target price on Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, Barclays began coverage on Plymouth Industrial REIT in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $22.00 target price on the stock.

Plymouth Industrial REIT Trading Up 0.5 %

Shares of PLYM opened at $20.76 on Friday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $942.09 million, a P/E ratio of 109.26, a price-to-earnings-growth ratio of 1.54 and a beta of 1.36. The stock’s fifty day simple moving average is $21.54 and its 200 day simple moving average is $21.98. Plymouth Industrial REIT has a twelve month low of $19.21 and a twelve month high of $25.55.

Plymouth Industrial REIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.24 dividend. This is an increase from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Wednesday, March 27th. Plymouth Industrial REIT’s dividend payout ratio is currently 505.26%.

Insider Activity at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, Director Pendleton P. White bought 4,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $21.58 per share, for a total transaction of $86,320.00. Following the completion of the purchase, the director now directly owns 4,000 shares of the company’s stock, valued at $86,320. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.

Institutional Trading of Plymouth Industrial REIT

Several large investors have recently modified their holdings of PLYM. SG Americas Securities LLC acquired a new stake in shares of Plymouth Industrial REIT during the third quarter valued at about $390,000. Spirit of America Management Corp NY acquired a new stake in shares of Plymouth Industrial REIT during the third quarter valued at about $31,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Plymouth Industrial REIT by 35.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,559 shares of the company’s stock worth $221,000 after purchasing an additional 2,762 shares in the last quarter. Jennison Associates LLC grew its stake in Plymouth Industrial REIT by 13.9% in the third quarter. Jennison Associates LLC now owns 3,139,434 shares of the company’s stock worth $65,771,000 after purchasing an additional 383,336 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Plymouth Industrial REIT by 34.3% in the third quarter. Teacher Retirement System of Texas now owns 20,089 shares of the company’s stock worth $421,000 after purchasing an additional 5,135 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.