Plymouth Industrial REIT (NYSE:PLYM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Plymouth Industrial REIT (NYSE:PLYM) from a sell rating to a hold rating in a research note published on Saturday.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird decreased their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Wedbush upgraded Plymouth Industrial REIT to a “hold” rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.44.

Plymouth Industrial REIT Price Performance

Shares of PLYM opened at $14.63 on Friday. Plymouth Industrial REIT has a 52-week low of $12.70 and a 52-week high of $24.70. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.13 and a current ratio of 0.13. The business’s 50 day moving average price is $15.66 and its two-hundred day moving average price is $15.87. The firm has a market cap of $651.68 million, a PE ratio of 5.08 and a beta of 1.11.

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

Plymouth Industrial REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date was Monday, June 30th. Plymouth Industrial REIT’s dividend payout ratio is 33.33%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC lifted its position in shares of Plymouth Industrial REIT by 136.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,594 shares of the company’s stock valued at $26,000 after buying an additional 919 shares during the last quarter. Quarry LP lifted its position in shares of Plymouth Industrial REIT by 74.1% during the 4th quarter. Quarry LP now owns 3,191 shares of the company’s stock valued at $57,000 after buying an additional 1,358 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Plymouth Industrial REIT by 6,862.5% during the 1st quarter. GAMMA Investing LLC now owns 3,342 shares of the company’s stock valued at $54,000 after buying an additional 3,294 shares during the last quarter. Copeland Capital Management LLC lifted its position in shares of Plymouth Industrial REIT by 79.9% during the 1st quarter. Copeland Capital Management LLC now owns 3,509 shares of the company’s stock valued at $57,000 after buying an additional 1,558 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new position in shares of Plymouth Industrial REIT during the 1st quarter valued at $60,000. 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.