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

Plymouth Industrial REIT, Inc. (NYSE:PLYMGet Rating) has been given a consensus recommendation of “Buy” by the seven ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $29.50.

A number of research analysts recently commented on the company. BMO Capital Markets assumed coverage on Plymouth Industrial REIT in a report on Monday, February 7th. They issued a “market perform” rating and a $30.00 price target on the stock. Truist Financial assumed coverage on Plymouth Industrial REIT in a report on Thursday, January 27th. They issued a “buy” rating and a $31.00 price target on the stock. B. Riley lowered their price target on Plymouth Industrial REIT from $32.00 to $29.00 in a report on Thursday. Finally, Zacks Investment Research cut Plymouth Industrial REIT from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd.

NYSE PLYM traded up $0.48 during trading hours on Friday, reaching $21.31. The company’s stock had a trading volume of 462,005 shares, compared to its average volume of 372,179. The firm’s 50-day moving average price is $25.34 and its 200-day moving average price is $27.44. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.84. Plymouth Industrial REIT has a 1 year low of $19.02 and a 1 year high of $32.37. The company has a market capitalization of $854.96 million, a price-to-earnings ratio of -23.42, a PEG ratio of 1.62 and a beta of 1.26.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Stockholders of record on Thursday, March 31st were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.13%. This is a boost from Plymouth Industrial REIT’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, March 30th. Plymouth Industrial REIT’s dividend payout ratio is -96.70%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NEXT Financial Group Inc grew its position in Plymouth Industrial REIT by 21.0% in the 4th quarter. NEXT Financial Group Inc now owns 2,598 shares of the company’s stock valued at $84,000 after acquiring an additional 451 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in Plymouth Industrial REIT by 0.9% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 58,325 shares of the company’s stock valued at $1,866,000 after acquiring an additional 500 shares during the last quarter. Advisor Group Holdings Inc. grew its position in Plymouth Industrial REIT by 2.2% in the 4th quarter. Advisor Group Holdings Inc. now owns 27,718 shares of the company’s stock valued at $887,000 after acquiring an additional 608 shares during the last quarter. Arizona State Retirement System grew its position in Plymouth Industrial REIT by 9.0% in the 1st quarter. Arizona State Retirement System now owns 8,887 shares of the company’s stock valued at $241,000 after acquiring an additional 734 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in Plymouth Industrial REIT by 5.1% in the 4th quarter. State of Alaska Department of Revenue now owns 15,895 shares of the company’s stock valued at $508,000 after acquiring an additional 775 shares during the last quarter. 86.17% of the stock is currently owned by hedge funds and other institutional investors.

About Plymouth Industrial REIT (Get Rating)

Plymouth Industrial REIT, Inc is a vertically integrated and self-managed real estate investment trust focused on the acquisition and operation of single and multi-tenant industrial properties located in secondary and select primary markets across the United States. The Company seeks to acquire properties that provide income and growth that enable the Company to leverage its real estate operating expertise to enhance shareholder value through active asset management, prudent property re-positioning and disciplined capital deployment.

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