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

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have been given a consensus rating of “Hold” by the ten research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $21.10.

Several research firms have weighed in on PLYM. Wedbush set a $17.00 price target on Plymouth Industrial REIT in a research report on Friday, February 28th. Robert W. Baird decreased their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. Truist Financial cut their target price on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, March 24th. KeyCorp reduced their target price on shares of Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Barclays lowered their price target on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating for the company in a report on Monday, March 31st.

Plymouth Industrial REIT Price Performance

Shares of NYSE PLYM opened at $16.57 on Tuesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. The stock has a market cap of $754.73 million, a price-to-earnings ratio of 828.50 and a beta of 1.12. The company’s 50-day moving average price is $15.30 and its 200 day moving average price is $16.61. Plymouth Industrial REIT has a 52 week low of $12.70 and a 52 week high of $24.71.

Plymouth Industrial REIT (NYSE:PLYM) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Plymouth Industrial REIT had a return on equity of 0.20% and a net margin of 0.46%. The business had revenue of $45.57 million for the quarter, compared to analysts’ expectations of $47.69 million. As a group, research analysts forecast that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were issued a dividend of $0.24 per share. The ex-dividend date was Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.79%. Plymouth Industrial REIT’s payout ratio is currently 31.48%.

Institutional Investors Weigh In On Plymouth Industrial REIT

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC boosted its holdings in shares of Plymouth Industrial REIT by 15.0% in the 4th quarter. SG Americas Securities LLC now owns 10,390 shares of the company’s stock valued at $185,000 after purchasing an additional 1,358 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Plymouth Industrial REIT by 2.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company’s stock worth $736,000 after buying an additional 952 shares during the period. Asset Management One Co. Ltd. boosted its holdings in Plymouth Industrial REIT by 4.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 57,243 shares of the company’s stock valued at $1,015,000 after acquiring an additional 2,408 shares during the last quarter. Rhumbline Advisers grew its position in Plymouth Industrial REIT by 1.4% during the fourth quarter. Rhumbline Advisers now owns 73,529 shares of the company’s stock valued at $1,309,000 after acquiring an additional 1,010 shares during the period. Finally, Meixler Investment Management Ltd. grew its position in Plymouth Industrial REIT by 129.0% during the fourth quarter. Meixler Investment Management Ltd. now owns 48,813 shares of the company’s stock valued at $869,000 after acquiring an additional 27,500 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

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.