Plymouth Industrial REIT (NYSE:PLYM) Receives Consensus Recommendation of “Hold” from Analysts

Plymouth Industrial REIT (NYSE:PLYM) has earned an average rating of “Hold” from the ten brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $21.3333.

A number of research analysts recently issued reports on PLYM shares. Wall Street Zen upgraded shares of Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Citizens Jmp cut shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. JMP Securities reaffirmed a “market perform” rating on shares of Plymouth Industrial REIT in a research note on Wednesday, August 20th. Truist Financial upped their price target on shares of Plymouth Industrial REIT from $18.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, August 20th. Finally, Wedbush upgraded shares of Plymouth Industrial REIT to a “hold” rating in a research report on Wednesday, July 2nd.

Plymouth Industrial REIT Price Performance

Shares of PLYM opened at $22.00 on Thursday. The firm has a 50-day simple moving average of $17.83 and a two-hundred day simple moving average of $16.60. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.13 and a quick ratio of 0.13. Plymouth Industrial REIT has a 1-year low of $12.70 and a 1-year high of $23.40. The stock has a market cap of $980.10 million, a PE ratio of 7.64 and a beta of 1.17.

Plymouth Industrial REIT (NYSE:PLYM) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. Plymouth Industrial REIT had a net margin of 67.77% and a return on equity of 24.24%. The business had revenue of $47.20 million during the quarter, compared to analyst estimates of $46.20 million. As a group, analysts forecast that Plymouth Industrial REIT will post 1.83 EPS for the current year.

Plymouth Industrial REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Tuesday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is 33.33%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Parallel Advisors LLC increased its position in Plymouth Industrial REIT by 136.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,594 shares of the company’s stock worth $26,000 after purchasing an additional 919 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Plymouth Industrial REIT by 6,862.5% during the 1st quarter. GAMMA Investing LLC now owns 3,342 shares of the company’s stock valued at $54,000 after buying an additional 3,294 shares during the last quarter. Copeland Capital Management LLC lifted its stake in Plymouth Industrial REIT by 79.9% during the first quarter. Copeland Capital Management LLC now owns 3,509 shares of the company’s stock worth $57,000 after purchasing an additional 1,558 shares during the last quarter. New York State Teachers Retirement System bought a new position in Plymouth Industrial REIT during the first quarter worth $60,000. Finally, BNP Paribas Financial Markets lifted its stake in Plymouth Industrial REIT by 65.3% in the second quarter. BNP Paribas Financial Markets now owns 3,834 shares of the company’s stock valued at $62,000 after buying an additional 1,514 shares during 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.