Analysts Set Plymouth Industrial REIT, Inc. (NYSE:PLYM) Price Target at $24.33

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have earned an average recommendation of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $24.33.

Several equities analysts recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. BMO Capital Markets cut their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 28th. Barclays dropped their price target on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Truist Financial reduced their price target on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 29th. Finally, Robert W. Baird cut their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th.

Plymouth Industrial REIT Stock Performance

Shares of NYSE PLYM opened at $18.93 on Tuesday. The company has a market capitalization of $859.21 million, a P/E ratio of 946.50, a price-to-earnings-growth ratio of 1.46 and a beta of 1.34. The business’s 50-day moving average price is $19.95 and its two-hundred day moving average price is $21.69. Plymouth Industrial REIT has a one year low of $18.08 and a one year high of $25.55. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12.

Plymouth Industrial REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.07%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 4,800.00%.

Insiders Place Their Bets

In related news, Director Pendleton P. Jr. White purchased 5,000 shares of Plymouth Industrial REIT stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $91,950. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey E. Witherell acquired 2,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $18.49 per share, for a total transaction of $36,980.00. Following the acquisition, the chief executive officer now owns 252,248 shares of the company’s stock, valued at approximately $4,664,065.52. This trade represents a 0.80 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLYM. Quarry LP increased its stake in shares of Plymouth Industrial REIT by 88.4% in the third quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after purchasing an additional 860 shares in the last quarter. Copeland Capital Management LLC purchased a new position in Plymouth Industrial REIT during the third quarter valued at $43,000. Loomis Sayles & Co. L P grew its stake in Plymouth Industrial REIT by 3,130.6% during the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after acquiring an additional 1,941 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Plymouth Industrial REIT during the third quarter valued at $46,000. Finally, Point72 Hong Kong Ltd purchased a new position in Plymouth Industrial REIT during the third quarter valued at $123,000. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Company Profile

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.