Brokerages Set Plymouth Industrial REIT, Inc. (NYSE:PLYM) PT at $29.50

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYMGet Rating) have received an average recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $29.50.

Several brokerages recently issued reports on PLYM. Truist Financial began coverage on Plymouth Industrial REIT in a report on Thursday, January 27th. They set a “buy” rating and a $31.00 price objective for the company. B. Riley reduced their price objective on Plymouth Industrial REIT from $32.00 to $29.00 in a report on Thursday, May 12th. Zacks Investment Research cut Plymouth Industrial REIT from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. Finally, BMO Capital Markets initiated coverage on Plymouth Industrial REIT in a report on Monday, February 7th. They issued a “market perform” rating and a $30.00 price target for the company.

PLYM opened at $21.30 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.18 and a quick ratio of 0.18. The business has a 50 day simple moving average of $25.23 and a 200-day simple moving average of $27.44. Plymouth Industrial REIT has a 12 month low of $19.03 and a 12 month high of $32.37.

The company also recently declared a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Thursday, March 31st were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Wednesday, March 30th. This is an increase from Plymouth Industrial REIT’s previous quarterly dividend of $0.21. Plymouth Industrial REIT’s payout ratio is -96.70%.

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its holdings in shares of Plymouth Industrial REIT by 24.6% during the first quarter. Goldman Sachs Group Inc. now owns 174,959 shares of the company’s stock valued at $4,741,000 after purchasing an additional 34,505 shares during the last quarter. State Street Corp boosted its stake in Plymouth Industrial REIT by 52.2% during the 1st quarter. State Street Corp now owns 901,349 shares of the company’s stock valued at $24,622,000 after purchasing an additional 309,161 shares in the last quarter. Vident Investment Advisory LLC bought a new position in Plymouth Industrial REIT during the 1st quarter valued at $204,000. Invesco Ltd. boosted its stake in Plymouth Industrial REIT by 6.5% during the 1st quarter. Invesco Ltd. now owns 262,027 shares of the company’s stock valued at $7,101,000 after purchasing an additional 16,072 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Plymouth Industrial REIT by 53.5% during the 1st quarter. Hsbc Holdings PLC now owns 31,763 shares of the company’s stock valued at $851,000 after purchasing an additional 11,076 shares in the last quarter. Institutional investors and hedge funds own 86.17% of the company’s stock.

About Plymouth Industrial REIT (Get Rating)

Plymouth Industrial REIT, Inc is a vertically integrated and self-managed real estate investment trust focused on the acquisition and operation of single and multi-tenant industrial properties located in secondary and select primary markets across the United States. The Company seeks to acquire properties that provide income and growth that enable the Company to leverage its real estate operating expertise to enhance shareholder value through active asset management, prudent property re-positioning and disciplined capital deployment.

Featured Stories

Analyst Recommendations for Plymouth Industrial REIT (NYSE:PLYM)

Receive News & Ratings for Plymouth Industrial REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plymouth Industrial REIT and related companies with MarketBeat.com's FREE daily email newsletter.