Plymouth Industrial REIT, Inc. (NYSE:PLYM) Receives Consensus Recommendation of "Hold" from Analysts

Plymouth Industrial REIT, Inc. (NYSE:PLYM - Get Free Report) has received a consensus rating 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 recommendation, five have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $23.89.

Several brokerages have recently issued reports on PLYM. JMP Securities reaffirmed a "market outperform" rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Robert W. Baird decreased their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set an "outperform" rating on the stock in a report on Tuesday, November 12th. JPMorgan Chase & Co. lowered their target price on 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. Truist Financial cut shares of Plymouth Industrial REIT from a "buy" rating to a "hold" rating in a research report on Friday, January 17th. Finally, Barclays lowered their price objective on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Monday, November 18th.

Insider Transactions at Plymouth Industrial REIT

In related news, CEO Jeffrey E. Witherell purchased 2,000 shares of the business's stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the completion of the acquisition, the chief executive officer now owns 252,248 shares in the company, valued at approximately $4,664,065.52. This trade represents a 0.80 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Pendleton P. Jr. White purchased 5,000 shares of Plymouth Industrial REIT stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $91,950. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company's stock.

Institutional Trading of Plymouth Industrial REIT

A number of large investors have recently modified their holdings of the company. Millennium Management LLC raised its position in Plymouth Industrial REIT by 115.6% during the 2nd quarter. Millennium Management LLC now owns 338,894 shares of the company's stock valued at $7,246,000 after purchasing an additional 181,725 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake 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 period. Jennison Associates LLC raised its holdings in shares of Plymouth Industrial REIT by 4.1% in the third quarter. Jennison Associates LLC now owns 4,401,384 shares of the company's stock valued at $99,471,000 after acquiring an additional 174,836 shares in the last quarter. Foundry Partners LLC bought a new stake in shares of Plymouth Industrial REIT in the third quarter valued at about $3,725,000. Finally, JPMorgan Chase & Co. lifted its stake in Plymouth Industrial REIT by 8.1% in the third quarter. JPMorgan Chase & Co. now owns 890,653 shares of the company's stock worth $20,129,000 after acquiring an additional 66,886 shares during the period. Hedge funds and other institutional investors own 92.67% of the company's stock.

Plymouth Industrial REIT Price Performance

NYSE PLYM traded down $0.10 on Wednesday, reaching $16.80. The company had a trading volume of 295,510 shares, compared to its average volume of 299,798. The firm's 50 day moving average price is $17.77 and its 200 day moving average price is $20.71. Plymouth Industrial REIT has a 12 month low of $16.37 and a 12 month high of $24.71. The stock has a market capitalization of $762.55 million, a PE ratio of 840.00 and a beta of 1.34. 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 company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.71%. The ex-dividend date was Tuesday, December 31st. Plymouth Industrial REIT's dividend payout ratio is currently 4,800.00%.

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.