Plymouth Industrial REIT (NYSE:PLYM) Price Target Raised to $25.00 at Wedbush

Plymouth Industrial REIT (NYSE:PLYM) had its price target lifted by Wedbush from $23.00 to $25.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a neutral rating on the stock. Wedbush also issued estimates for Plymouth Industrial REIT’s Q3 2024 earnings at $0.46 EPS, Q4 2024 earnings at $0.50 EPS and FY2025 earnings at $2.05 EPS.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Plymouth Industrial REIT from $24.00 to $23.00 and set an underweight rating on the stock in a report on Wednesday, July 10th. B. Riley lifted their price target on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a buy rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $24.67.

Plymouth Industrial REIT Stock Up 0.3 %

Shares of Plymouth Industrial REIT stock opened at $23.24 on Monday. The stock’s fifty day moving average is $22.24 and its 200-day moving average is $21.75. The firm has a market capitalization of $1.05 billion, a PE ratio of 54.05, a price-to-earnings-growth ratio of 1.81 and a beta of 1.36. The company has a quick ratio of 0.12, a current ratio of 0.16 and a debt-to-equity ratio of 1.49. Plymouth Industrial REIT has a 12-month low of $19.21 and a 12-month high of $25.55.

Plymouth Industrial REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.96 dividend on an annualized basis and a yield of 4.13%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 223.26%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Plymouth Industrial REIT by 2.8% in the first quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock valued at $95,943,000 after purchasing an additional 115,318 shares in the last quarter. Jennison Associates LLC grew its stake in Plymouth Industrial REIT by 5.9% in the first quarter. Jennison Associates LLC now owns 4,183,540 shares of the company’s stock valued at $94,130,000 after purchasing an additional 234,536 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in Plymouth Industrial REIT by 10.8% in the first quarter. Westwood Holdings Group Inc. now owns 2,935,803 shares of the company’s stock valued at $66,056,000 after purchasing an additional 286,434 shares in the last quarter. Wellington Management Group LLP grew its stake in Plymouth Industrial REIT by 1.8% in the fourth quarter. Wellington Management Group LLP now owns 1,669,720 shares of the company’s stock valued at $40,190,000 after purchasing an additional 29,479 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Plymouth Industrial REIT by 19.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 562,177 shares of the company’s stock valued at $13,532,000 after purchasing an additional 90,645 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.