Plymouth Industrial REIT (NYSE:PLYM) PT Lowered to $23.00 at JPMorgan Chase & Co.

Plymouth Industrial REIT (NYSE:PLYM) had its price target reduced by JPMorgan Chase & Co. from $24.00 to $23.00 in a research note released on Wednesday, Benzinga reports. They currently have an underweight rating on the stock.

Separately, Barclays assumed coverage on Plymouth Industrial REIT in a research note on Wednesday, March 27th. They set an equal weight rating and a $22.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given 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 a consensus target price of $24.60.

Plymouth Industrial REIT Stock Performance

Shares of PLYM opened at $22.69 on Wednesday. The stock has a 50-day moving average of $21.07 and a two-hundred day moving average of $21.70. Plymouth Industrial REIT has a one year low of $19.21 and a one year high of $25.55. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a market cap of $1.03 billion, a P/E ratio of 52.77, a P/E/G ratio of 1.71 and a beta of 1.36.

Plymouth Industrial REIT (NYSE:PLYM) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.33). The company had revenue of $50.23 million for the quarter, compared to analysts’ expectations of $50.73 million. Plymouth Industrial REIT had a net margin of 11.42% and a return on equity of 4.74%. During the same quarter in the previous year, the business posted $0.45 EPS. As a group, research analysts predict that Plymouth Industrial REIT will post 1.88 EPS for the current year.

Plymouth Industrial REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.96 annualized dividend and a dividend yield of 4.23%. Plymouth Industrial REIT’s dividend payout ratio is presently 223.26%.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several institutional investors and hedge funds have recently modified their holdings of the business. Boston Partners increased its stake in shares of Plymouth Industrial REIT by 105.4% in the 1st quarter. Boston Partners now owns 71,450 shares of the company’s stock valued at $1,608,000 after purchasing an additional 36,667 shares in the last quarter. Tidal Investments LLC boosted its holdings in Plymouth Industrial REIT by 5.8% in the 1st quarter. Tidal Investments LLC now owns 19,915 shares of the company’s stock worth $448,000 after buying an additional 1,088 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Plymouth Industrial REIT by 2.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 22,192 shares of the company’s stock worth $470,000 after buying an additional 490 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Plymouth Industrial REIT by 17.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,008 shares of the company’s stock worth $293,000 after buying an additional 1,892 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its holdings in Plymouth Industrial REIT by 10.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,935,803 shares of the company’s stock worth $66,056,000 after buying an additional 286,434 shares during the last quarter. 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.