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

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has been given an average recommendation of “Hold” by the ten brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $21.10.

A number of equities analysts have weighed in on the company. Wedbush set a $17.00 price objective on Plymouth Industrial REIT in a research note on Friday, February 28th. Robert W. Baird reduced their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Truist Financial reduced their target price on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Monday, March 24th. Barclays reduced their target price on Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Monday, March 31st. Finally, KeyCorp reduced their target price on Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th.

Plymouth Industrial REIT Stock Performance

NYSE PLYM opened at $16.58 on Friday. The stock’s fifty day moving average is $15.54 and its two-hundred day moving average is $17.07. The firm has a market capitalization of $755.19 million, a P/E ratio of 829.00 and a beta of 1.11. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. Plymouth Industrial REIT has a fifty-two week low of $12.70 and a fifty-two week high of $24.71.

Plymouth Industrial REIT (NYSE:PLYM) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company had revenue of $45.57 million for the quarter, compared to analyst estimates of $47.69 million. Plymouth Industrial REIT had a return on equity of 0.20% and a net margin of 0.46%. On average, research analysts anticipate that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a $0.24 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.79%. Plymouth Industrial REIT’s dividend payout ratio is presently 31.48%.

Institutional Investors Weigh In On Plymouth Industrial REIT

Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc raised its holdings in shares of Plymouth Industrial REIT by 17.3% in the 4th quarter. Legal & General Group Plc now owns 41,472 shares of the company’s stock valued at $738,000 after buying an additional 6,119 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Plymouth Industrial REIT by 30.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 11,628 shares of the company’s stock valued at $207,000 after buying an additional 2,697 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Plymouth Industrial REIT by 8.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 890,653 shares of the company’s stock valued at $20,129,000 after buying an additional 66,886 shares during the period. Rhumbline Advisers raised its holdings in shares of Plymouth Industrial REIT by 1.4% in the 4th quarter. Rhumbline Advisers now owns 73,529 shares of the company’s stock valued at $1,309,000 after buying an additional 1,010 shares during the period. Finally, Barclays PLC raised its holdings in shares of Plymouth Industrial REIT by 321.2% in the 3rd quarter. Barclays PLC now owns 63,101 shares of the company’s stock valued at $1,426,000 after buying an additional 48,119 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.