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

Plymouth Industrial REIT, Inc. (NYSE:PLYM) has earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $22.00.

PLYM has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. JMP Securities restated a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Wedbush set a $17.00 price objective on Plymouth Industrial REIT in a research report on Friday, February 28th. Truist Financial lowered their target price on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Monday. Finally, Robert W. Baird reduced their price target on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th.

Plymouth Industrial REIT Stock Performance

Shares of PLYM stock opened at $17.09 on Thursday. The firm has a market capitalization of $778.47 million, a price-to-earnings ratio of 854.50 and a beta of 1.45. The stock has a fifty day moving average of $16.84 and a 200 day moving average of $18.93. Plymouth Industrial REIT has a 52 week low of $16.06 and a 52 week 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.

Plymouth Industrial REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date of this dividend is Monday, March 31st. Plymouth Industrial REIT’s payout ratio is 31.37%.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of institutional investors have recently modified their holdings of the stock. Jennison Associates LLC boosted its stake in Plymouth Industrial REIT by 4.1% in the 3rd quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock worth $99,471,000 after purchasing an additional 174,836 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in Plymouth Industrial REIT by 33.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company’s stock worth $64,634,000 after buying an additional 901,251 shares during the last quarter. State Street Corp lifted its stake in shares of Plymouth Industrial REIT by 1.4% in the third quarter. State Street Corp now owns 1,223,747 shares of the company’s stock worth $27,949,000 after buying an additional 16,398 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Plymouth Industrial REIT by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock worth $23,685,000 after buying an additional 29,924 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Plymouth Industrial REIT by 24.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock valued at $20,583,000 after buying an additional 180,003 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other 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.