Plymouth Industrial REIT (NYSE:PLYM) Receives Consensus Recommendation of “Hold” from Analysts

Plymouth Industrial REIT (NYSE:PLYM) has been assigned a consensus rating of “Hold” from the twelve brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $21.40.

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Plymouth Industrial REIT in a research note on Wednesday, October 8th. BMO Capital Markets reduced their price target on Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating for the company in a report on Monday, October 27th. Truist Financial boosted their price target on Plymouth Industrial REIT from $18.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, August 20th. Finally, Colliers Securities lowered shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research report on Monday, October 27th.

Hedge Funds Weigh In On Plymouth Industrial REIT

Hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC raised its holdings in Plymouth Industrial REIT by 136.1% during the second quarter. Parallel Advisors LLC now owns 1,594 shares of the company’s stock valued at $26,000 after buying an additional 919 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Plymouth Industrial REIT by 233.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,605 shares of the company’s stock valued at $36,000 after acquiring an additional 1,123 shares in the last quarter. CWM LLC lifted its holdings in Plymouth Industrial REIT by 40.5% in the 3rd quarter. CWM LLC now owns 2,210 shares of the company’s stock worth $49,000 after purchasing an additional 637 shares during the last quarter. Covestor Ltd lifted its holdings in Plymouth Industrial REIT by 1,965.3% in the 3rd quarter. Covestor Ltd now owns 2,499 shares of the company’s stock worth $55,000 after purchasing an additional 2,378 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Plymouth Industrial REIT by 65.3% during the second quarter. BNP Paribas Financial Markets now owns 3,834 shares of the company’s stock worth $62,000 after purchasing an additional 1,514 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Plymouth Industrial REIT Stock Performance

PLYM stock opened at $21.96 on Tuesday. The firm has a 50 day simple moving average of $22.02 and a 200 day simple moving average of $19.04. Plymouth Industrial REIT has a 52 week low of $12.70 and a 52 week high of $22.74. The stock has a market cap of $978.10 million, a P/E ratio of 10.98 and a beta of 1.26. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.13 and a current ratio of 0.13.

Plymouth Industrial REIT (NYSE:PLYM) last released its earnings results on Monday, November 10th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($1.70). The company had revenue of $51.16 million during the quarter, compared to analysts’ expectations of $49.62 million. Plymouth Industrial REIT had a return on equity of 16.76% and a net margin of 47.78%. Research analysts anticipate that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.24 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.4%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 48.00%.

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.