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

Plymouth Industrial REIT (NYSE:PLYM) had its price objective boosted by Barclays from $22.00 to $25.00 in a report released on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities analysts have also issued reports about the stock. Truist Financial upped their target price on shares of Plymouth Industrial REIT from $24.00 to $26.00 and gave the stock a buy rating in a research note on Tuesday, August 13th. Wedbush upped their target price on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a neutral rating in a research note on Monday, August 5th. B. Riley upped their target price on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a buy rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Plymouth Industrial REIT from $24.00 to $23.00 and set an underweight rating for the company in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $25.50.

Plymouth Industrial REIT Price Performance

PLYM opened at $23.44 on Wednesday. The company has a quick ratio of 0.16, 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. The company has a fifty day simple moving average of $22.52 and a 200 day simple moving average of $21.77. The stock has a market cap of $1.06 billion, a P/E ratio of 54.51, a P/E/G ratio of 1.77 and a beta of 1.36.

Plymouth Industrial REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a $0.24 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.96 annualized dividend and a yield of 4.10%. Plymouth Industrial REIT’s dividend payout ratio is currently 223.26%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Plymouth Industrial REIT by 2.8% during the first quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock worth $95,943,000 after purchasing an additional 115,318 shares during the period. Jennison Associates LLC increased its holdings in shares of Plymouth Industrial REIT by 5.9% during the first quarter. Jennison Associates LLC now owns 4,183,540 shares of the company’s stock worth $94,130,000 after purchasing an additional 234,536 shares during the period. Westwood Holdings Group Inc. increased its holdings in shares of Plymouth Industrial REIT by 1.0% during the second quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock worth $63,372,000 after purchasing an additional 28,272 shares during the period. Wellington Management Group LLP increased its holdings in shares of Plymouth Industrial REIT by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 1,669,720 shares of the company’s stock worth $40,190,000 after purchasing an additional 29,479 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Plymouth Industrial REIT by 19.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 562,177 shares of the company’s stock worth $13,532,000 after purchasing an additional 90,645 shares during the period. 92.67% of the stock is owned by institutional investors.

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.