Plymouth Industrial REIT, Inc. (NYSE:PLYM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $25.00.

A number of equities research analysts have weighed in on PLYM shares. JMP Securities upgraded shares of Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research note on Monday, January 22nd. Truist Financial decreased their price target on shares of Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Finally, Barclays started coverage on shares of Plymouth Industrial REIT in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 price target on the stock.

Insider Activity

In other news, Director Pendleton P. White bought 4,000 shares of Plymouth Industrial REIT stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $21.58 per share, for a total transaction of $86,320.00. Following the purchase, the director now owns 4,000 shares of the company’s stock, valued at $86,320. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PLYM. Jennison Associates LLC raised its holdings in shares of Plymouth Industrial REIT by 25.8% in the fourth quarter. Jennison Associates LLC now owns 3,949,004 shares of the company’s stock valued at $95,053,000 after buying an additional 809,570 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Plymouth Industrial REIT by 419.3% in the third quarter. Alliancebernstein L.P. now owns 895,739 shares of the company’s stock valued at $15,057,000 after buying an additional 723,263 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Plymouth Industrial REIT by 12.7% in the second quarter. BlackRock Inc. now owns 3,179,475 shares of the company’s stock valued at $73,192,000 after buying an additional 357,899 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings in shares of Plymouth Industrial REIT by 15.9% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,512,614 shares of the company’s stock valued at $52,790,000 after buying an additional 344,683 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Plymouth Industrial REIT by 52.2% in the first quarter. State Street Corp now owns 901,349 shares of the company’s stock valued at $24,622,000 after buying an additional 309,161 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Plymouth Industrial REIT Trading Up 1.3 %

Shares of Plymouth Industrial REIT stock opened at $20.33 on Friday. The company’s fifty day simple moving average is $21.67 and its 200-day simple moving average is $21.98. The company has a market cap of $922.58 million, a price-to-earnings ratio of 107.00, a PEG ratio of 1.50 and a beta of 1.36. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.47. Plymouth Industrial REIT has a 1 year low of $19.21 and a 1 year high of $25.55.

Plymouth Industrial REIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. Plymouth Industrial REIT’s payout ratio is currently 505.26%.

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.