JMP Securities Reiterates “Market Perform” Rating for Plymouth Industrial REIT (NYSE:PLYM)

JMP Securities restated their market perform rating on shares of Plymouth Industrial REIT (NYSE:PLYM) in a report published on Wednesday,Benzinga reports.

Several other brokerages have also weighed in on PLYM. Robert W. Baird decreased their price objective on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Wall Street Zen raised shares of Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Wedbush raised shares of Plymouth Industrial REIT to a “hold” rating in a report on Wednesday, July 2nd. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.67.

Plymouth Industrial REIT Stock Performance

Plymouth Industrial REIT stock opened at $21.1450 on Wednesday. The company has a market capitalization of $942.09 million, a price-to-earnings ratio of 7.34 and a beta of 1.11. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.13 and a quick ratio of 0.13. Plymouth Industrial REIT has a 12-month low of $12.70 and a 12-month high of $24.70. The firm’s fifty day moving average price is $16.03 and its 200 day moving average price is $16.00.

Plymouth Industrial REIT (NYSE:PLYM) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $47.20 million during the quarter, compared to analyst estimates of $46.20 million. Plymouth Industrial REIT had a net margin of 67.77% and a return on equity of 24.24%. On average, research analysts forecast that Plymouth Industrial REIT will post 1.83 EPS for the current fiscal year.

Plymouth Industrial REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.96 annualized dividend and a dividend yield of 4.5%. Plymouth Industrial REIT’s payout ratio is 33.33%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co boosted its stake in Plymouth Industrial REIT by 11.0% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 61,408 shares of the company’s stock valued at $986,000 after purchasing an additional 6,071 shares during the period. Tower Research Capital LLC TRC boosted its stake in Plymouth Industrial REIT by 244.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,228 shares of the company’s stock valued at $68,000 after purchasing an additional 2,999 shares during the period. State of Tennessee Department of Treasury acquired a new position in Plymouth Industrial REIT during the 2nd quarter valued at about $77,000. BROOKFIELD Corp ON boosted its stake in Plymouth Industrial REIT by 8.9% during the 2nd quarter. BROOKFIELD Corp ON now owns 260,102 shares of the company’s stock valued at $4,177,000 after purchasing an additional 21,200 shares during the period. Finally, Man Group plc boosted its stake in Plymouth Industrial REIT by 22.3% during the 2nd quarter. Man Group plc now owns 89,655 shares of the company’s stock valued at $1,440,000 after purchasing an additional 16,328 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

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.