Brokerages Set Plymouth Industrial REIT, Inc. (NYSE:PLYM) Target Price at $24.33

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has received an average recommendation of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $24.33.

PLYM has been the subject of several analyst reports. BMO Capital Markets lowered their target price on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Wednesday, August 28th. JMP Securities restated a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. Truist Financial decreased their price objective on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 29th. Barclays cut their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Finally, Robert W. Baird cut their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th.

Insider Buying and Selling

In related news, Director Pendleton P. Jr. White purchased 5,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at $91,950. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey E. Witherell bought 2,000 shares of Plymouth Industrial REIT stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $18.49 per share, with a total value of $36,980.00. Following the completion of the purchase, the chief executive officer now owns 252,248 shares in the company, valued at approximately $4,664,065.52. The trade was a 0.80 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP lifted its stake in Plymouth Industrial REIT by 88.4% during the third quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after purchasing an additional 860 shares during the last quarter. Copeland Capital Management LLC bought a new position in Plymouth Industrial REIT during the third quarter worth $43,000. Loomis Sayles & Co. L P lifted its stake in Plymouth Industrial REIT by 3,130.6% during the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock worth $45,000 after purchasing an additional 1,941 shares during the last quarter. Point72 DIFC Ltd bought a new position in Plymouth Industrial REIT during the third quarter worth $46,000. Finally, Point72 Hong Kong Ltd bought a new position in Plymouth Industrial REIT during the third quarter worth $123,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Plymouth Industrial REIT Price Performance

PLYM stock opened at $18.93 on Tuesday. Plymouth Industrial REIT has a 52 week low of $18.08 and a 52 week high of $25.55. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The company has a fifty day simple moving average of $19.95 and a two-hundred day simple moving average of $21.69. The firm has a market capitalization of $859.21 million, a P/E ratio of 946.50, a price-to-earnings-growth ratio of 1.46 and a beta of 1.34.

Plymouth Industrial REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.07%. Plymouth Industrial REIT’s payout ratio is currently 4,800.00%.

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.