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 analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $24.33.

PLYM has been the subject of several analyst reports. BNP Paribas downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price for the company. in a report on Friday, November 8th. Robert W. Baird dropped their target price 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. Barclays reduced their target price on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Finally, Truist Financial dropped their price target on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, November 29th.

Plymouth Industrial REIT Trading Down 1.6 %

NYSE PLYM opened at $16.96 on Friday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. The business has a fifty day simple moving average of $18.72 and a 200 day simple moving average of $21.29. Plymouth Industrial REIT has a 12 month low of $16.92 and a 12 month high of $24.71. The firm has a market capitalization of $769.80 million, a P/E ratio of 848.00, a PEG ratio of 1.47 and a beta of 1.34.

Plymouth Industrial REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.66%. The ex-dividend date is Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 4,800.00%.

Insiders Place Their Bets

In related news, CEO Jeffrey E. Witherell purchased 2,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the completion of the transaction, the chief executive officer now directly owns 252,248 shares in the company, valued at approximately $4,664,065.52. This represents a 0.80 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Pendleton P. Jr. White acquired 5,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $18.39 per share, with a total value of $91,950.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $91,950. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Plymouth Industrial REIT

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Plymouth Industrial REIT by 8.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 890,653 shares of the company’s stock valued at $20,129,000 after acquiring an additional 66,886 shares in the last quarter. Tidal Investments LLC increased its position in shares of Plymouth Industrial REIT by 7.4% in the third quarter. Tidal Investments LLC now owns 23,433 shares of the company’s stock worth $530,000 after purchasing an additional 1,614 shares during the last quarter. Barclays PLC raised its stake in Plymouth Industrial REIT by 321.2% in the third quarter. Barclays PLC now owns 63,101 shares of the company’s stock valued at $1,426,000 after purchasing an additional 48,119 shares in the last quarter. Geode Capital Management LLC lifted its position in Plymouth Industrial REIT by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock valued at $23,685,000 after purchasing an additional 29,924 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in Plymouth Industrial REIT by 1.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock worth $1,064,000 after buying an additional 900 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

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.