Plymouth Industrial REIT, Inc. (NYSE:PLYM) Given Average Recommendation of “Hold” by Brokerages

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) have received a consensus rating of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $23.89.

Several brokerages have recently issued reports on PLYM. Barclays lowered their price objective on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. JMP Securities restated a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price objective on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Robert W. Baird lowered 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 note on Tuesday, November 12th. Finally, BNP Paribas downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research note on Friday, November 8th.

Plymouth Industrial REIT Trading Down 0.6 %

Shares of PLYM stock opened at $16.80 on Wednesday. Plymouth Industrial REIT has a 12 month low of $16.37 and a 12 month high of $24.71. 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 business’s 50 day moving average is $17.77 and its two-hundred day moving average is $20.69. The company has a market cap of $762.55 million, a PE ratio of 840.00 and a beta of 1.34.

Plymouth Industrial REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a $0.24 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.96 annualized dividend and a yield of 5.71%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 4,800.00%.

Insider Buying and Selling

In related news, CEO Jeffrey E. Witherell acquired 2,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was bought at an average cost of $18.49 per share, with a total value of $36,980.00. Following the completion of the acquisition, the chief executive officer now owns 252,248 shares in the company, valued at $4,664,065.52. The trade was a 0.80 % increase in their ownership of the stock. The transaction was disclosed in a document filed 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 on Friday, November 15th. The shares were bought at an average cost of $18.39 per share, with a total value of $91,950.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $91,950. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Institutional Trading of Plymouth Industrial REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State of New Jersey Common Pension Fund D increased its position in Plymouth Industrial REIT by 6.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 246,404 shares of the company’s stock worth $4,386,000 after purchasing an additional 15,029 shares during the period. Meixler Investment Management Ltd. increased its position in Plymouth Industrial REIT by 129.0% in the fourth quarter. Meixler Investment Management Ltd. now owns 48,813 shares of the company’s stock worth $869,000 after purchasing an additional 27,500 shares during the period. Rhumbline Advisers increased its position in Plymouth Industrial REIT by 1.4% in the fourth quarter. Rhumbline Advisers now owns 73,529 shares of the company’s stock worth $1,309,000 after purchasing an additional 1,010 shares during the period. Asset Management One Co. Ltd. increased its position in Plymouth Industrial REIT by 4.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 57,243 shares of the company’s stock worth $1,015,000 after purchasing an additional 2,408 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Plymouth Industrial REIT by 2.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company’s stock worth $736,000 after purchasing an additional 952 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.