Plymouth Industrial REIT (NYSE:PLYM) Given Average Recommendation of “Hold” by Brokerages

Shares of Plymouth Industrial REIT (NYSE:PLYM) have earned a consensus recommendation of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $21.3333.

PLYM has been the topic of a number of research reports. JMP Securities restated a “market perform” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, August 20th. Truist Financial boosted their price objective on Plymouth Industrial REIT from $18.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, August 20th. Citizens Jmp cut Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Weiss Ratings restated a “hold (c)” rating on shares of Plymouth Industrial REIT in a research report on Wednesday. Finally, Wall Street Zen upgraded Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several large investors have recently made changes to their positions in PLYM. Westwood Holdings Group Inc. lifted its stake in Plymouth Industrial REIT by 24.5% in the first quarter. Westwood Holdings Group Inc. now owns 4,520,361 shares of the company’s stock valued at $73,682,000 after buying an additional 889,250 shares during the period. MetLife Investment Management LLC lifted its stake in Plymouth Industrial REIT by 2,406.8% in the first quarter. MetLife Investment Management LLC now owns 656,826 shares of the company’s stock valued at $10,706,000 after buying an additional 630,624 shares during the period. Strs Ohio acquired a new position in Plymouth Industrial REIT in the first quarter valued at about $6,652,000. Peregrine Capital Management LLC acquired a new position in Plymouth Industrial REIT in the first quarter valued at about $5,199,000. Finally, BROOKFIELD Corp ON acquired a new position in Plymouth Industrial REIT in the first quarter valued at about $3,894,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Down 1.7%

Shares of Plymouth Industrial REIT stock opened at $21.13 on Monday. The firm has a market cap of $941.34 million, a price-to-earnings ratio of 7.34 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 has a 52-week low of $12.70 and a 52-week high of $22.65. The stock has a 50-day simple moving average of $20.26 and a 200-day simple moving average of $17.24.

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

Plymouth Industrial REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is 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.