Plymouth Industrial REIT, Inc. (NYSE:PLYM - Get Free Report) has received a consensus rating of "Hold" from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $25.57.
PLYM has been the topic of a number of research analyst reports. Wedbush increased their price objective on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Monday, August 5th. JMP Securities reissued a "market outperform" rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. B. Riley boosted their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a "buy" rating in a report on Monday, August 5th. Truist Financial increased their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a "buy" rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets decreased their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a "market perform" rating for the company in a research note on Wednesday, August 28th.
Get Our Latest Stock Analysis on PLYM
Insider Buying and Selling at Plymouth Industrial REIT
In other news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the company's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $23.58, for a total value of $13,285,868.04. Following the completion of the sale, the insider now owns 4,474,292 shares in the company, valued at $105,503,805.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company's stock.
Hedge Funds Weigh In On Plymouth Industrial REIT
A number of hedge funds and other institutional investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. lifted its holdings in Plymouth Industrial REIT by 2.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 22,192 shares of the company's stock worth $470,000 after acquiring an additional 490 shares during the period. American International Group Inc. boosted its holdings in shares of Plymouth Industrial REIT by 2.5% in the 1st quarter. American International Group Inc. now owns 22,508 shares of the company's stock worth $506,000 after buying an additional 544 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Plymouth Industrial REIT by 1.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 42,914 shares of the company's stock valued at $966,000 after buying an additional 578 shares during the period. State of Alaska Department of Revenue increased its holdings in Plymouth Industrial REIT by 4.0% during the first quarter. State of Alaska Department of Revenue now owns 21,590 shares of the company's stock worth $484,000 after buying an additional 832 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Plymouth Industrial REIT by 8.6% in the first quarter. Daiwa Securities Group Inc. now owns 11,838 shares of the company's stock worth $266,000 after acquiring an additional 939 shares during the period. Hedge funds and other institutional investors own 92.67% of the company's stock.
Plymouth Industrial REIT Stock Down 3.1 %
Shares of Plymouth Industrial REIT stock traded down $0.67 during trading on Monday, reaching $20.91. 163,613 shares of the company traded hands, compared to its average volume of 244,401. The firm has a market capitalization of $948.94 million, a PE ratio of 48.63, a P/E/G ratio of 1.62 and a beta of 1.36. Plymouth Industrial REIT has a 1-year low of $19.21 and a 1-year high of $25.55. The company has a 50 day moving average price of $22.83 and a 200-day moving average price of $22.06. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.16 and a quick ratio of 0.16.
Plymouth Industrial REIT Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend is Monday, September 30th. Plymouth Industrial REIT's payout ratio is currently 223.26%.
About Plymouth Industrial REIT
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Get Free ReportPlymouth 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.
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