Plymouth Industrial REIT (NYSE:PLYM) Sets New 12-Month High – Time to Buy?

Plymouth Industrial REIT (NYSE:PLYM) shares hit a new 52-week high on Tuesday . The company traded as high as $22.74 and last traded at $22.6450, with a volume of 2219072 shares changing hands. The stock had previously closed at $22.18.

Analyst Ratings Changes

PLYM has been the subject of a number of analyst reports. Industrial Alliance Securities set a $22.00 target price on shares of Plymouth Industrial REIT in a research note on Monday, October 27th. Baird R W downgraded Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. Colliers Securities cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research report on Monday, October 27th. Robert W. Baird downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $19.00 to $24.00 in a report on Thursday, October 23rd. Finally, JMP Securities reissued a “market perform” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.40.

Plymouth Industrial REIT Stock Down 2.9%

The firm’s 50 day simple moving average is $22.01 and its 200-day simple moving average is $18.91. The company has a market cap of $981.48 million, a price-to-earnings ratio of 11.02 and a beta of 1.18. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.13 and a quick ratio of 0.13.

Plymouth Industrial REIT (NYSE:PLYM) last posted its earnings results on Monday, November 10th. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($1.70). The firm had revenue of $51.16 million during the quarter, compared to analysts’ expectations of $49.62 million. Plymouth Industrial REIT had a net margin of 47.78% and a return on equity of 16.76%. As a group, sell-side analysts anticipate that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is presently 48.00%.

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its position in Plymouth Industrial REIT by 10.6% in the 1st quarter. Victory Capital Management Inc. now owns 73,000 shares of the company’s stock valued at $1,190,000 after purchasing an additional 7,000 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Plymouth Industrial REIT in the first quarter valued at about $729,000. PNC Financial Services Group Inc. raised its holdings in shares of Plymouth Industrial REIT by 43.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the company’s stock valued at $75,000 after buying an additional 1,375 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Plymouth Industrial REIT by 24.5% during the first quarter. Westwood Holdings Group Inc. now owns 4,520,361 shares of the company’s stock worth $73,682,000 after buying an additional 889,250 shares during the period. Finally, Entropy Technologies LP purchased a new position in shares of Plymouth Industrial REIT during the first quarter worth about $230,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Plymouth Industrial REIT Company Profile

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.