Plymouth Industrial REIT, Inc. (NYSE:PLYM) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have been assigned an average rating of “Hold” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $24.33.

Several brokerages have issued reports on PLYM. BNP Paribas lowered shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research note on Friday, November 8th. Barclays lowered their target price on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report 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 research report on Friday, November 29th. Finally, Robert W. Baird lowered their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th.

Insider Buying and Selling at Plymouth Industrial REIT

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP grew its holdings in shares of Plymouth Industrial REIT by 88.4% during the 3rd 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. Nomura Asset Management Co. Ltd. lifted its position in Plymouth Industrial REIT by 1.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock worth $1,064,000 after purchasing an additional 900 shares during the period. Daiwa Securities Group Inc. grew its stake in Plymouth Industrial REIT by 11.4% during the third quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company’s stock worth $290,000 after buying an additional 1,317 shares in the last quarter. Tidal Investments LLC increased its holdings in Plymouth Industrial REIT by 7.4% in the 3rd quarter. Tidal Investments LLC now owns 23,433 shares of the company’s stock valued at $530,000 after buying an additional 1,614 shares during the period. Finally, Copeland Capital Management LLC acquired a new position in shares of Plymouth Industrial REIT in the 3rd quarter valued at approximately $43,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Plymouth Industrial REIT Price Performance

NYSE PLYM opened at $17.40 on Friday. The firm’s 50 day moving average is $18.99 and its 200-day moving average is $21.40. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $789.77 million, a PE ratio of 870.00, a price-to-earnings-growth ratio of 1.47 and a beta of 1.34. Plymouth Industrial REIT has a 12-month low of $17.20 and a 12-month high of $24.71.

Plymouth Industrial REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date is Tuesday, December 31st. Plymouth Industrial REIT’s payout ratio is presently 4,800.00%.

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.