Plymouth Industrial REIT (NYSE:PLYM) Given Consensus Rating of “Hold” by Analysts

Plymouth Industrial REIT (NYSE:PLYM) has been assigned a consensus recommendation of “Hold” from the thirteen brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $21.5455.

Several analysts recently commented on PLYM shares. Baird R W downgraded shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Wall Street Zen upgraded Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. BMO Capital Markets decreased their price target on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating on the stock in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, October 8th. Finally, Citizens Jmp lowered shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new position in shares of Plymouth Industrial REIT in the first quarter worth $408,000. Adage Capital Partners GP L.L.C. grew its stake in Plymouth Industrial REIT by 29.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 700,000 shares of the company’s stock valued at $11,410,000 after acquiring an additional 160,000 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Plymouth Industrial REIT by 7.8% in the 1st quarter. Russell Investments Group Ltd. now owns 128,593 shares of the company’s stock valued at $2,096,000 after acquiring an additional 9,340 shares during the last quarter. BROOKFIELD Corp ON purchased a new stake in Plymouth Industrial REIT in the 1st quarter worth $3,894,000. Finally, Public Employees Retirement System of Ohio lifted its stake in Plymouth Industrial REIT by 6.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 219,326 shares of the company’s stock worth $3,522,000 after purchasing an additional 13,062 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Up 0.4%

Shares of NYSE PLYM opened at $21.96 on Friday. The firm’s 50 day simple moving average is $21.91 and its two-hundred day simple moving average is $17.91. Plymouth Industrial REIT has a one year low of $12.70 and a one year high of $22.65. The stock has a market capitalization of $978.10 million, a P/E ratio of 7.62 and a beta of 1.16. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.13 and a quick ratio of 0.13.

Plymouth Industrial REIT (NYSE:PLYM) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Plymouth Industrial REIT had a net margin of 67.77% and a return on equity of 24.24%. The company had revenue of $47.20 million during the quarter, compared to analyst estimates of $46.20 million. As a group, analysts expect that Plymouth Industrial REIT will post 1.83 EPS for the current fiscal year.

Plymouth Industrial REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, September 30th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 33.33%.

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.