Plymouth Industrial REIT, Inc. (NYSE:PLYM - Get Free Report) declared a quarterly dividend on Friday, March 14th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.24 per share on Wednesday, April 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend is Monday, March 31st.
Plymouth Industrial REIT has a payout ratio of 1,285.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Plymouth Industrial REIT to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 46.2%.
Plymouth Industrial REIT Price Performance
NYSE:PLYM traded up $0.04 during midday trading on Tuesday, hitting $17.40. The company had a trading volume of 584,872 shares, compared to its average volume of 281,703. Plymouth Industrial REIT has a 52-week low of $16.06 and a 52-week high of $24.71. The stock's fifty day moving average price is $16.80 and its 200-day moving average price is $19.15. The company has a market capitalization of $792.59 million, a PE ratio of 870.00 and a beta of 1.45. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42.
Analyst Ratings Changes
Several analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target 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. Robert W. Baird decreased their price target on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Truist Financial downgraded shares of Plymouth Industrial REIT from a "buy" rating to a "hold" rating in a research note on Friday, January 17th. Wedbush set a $17.00 price target on shares of Plymouth Industrial REIT in a report on Friday, February 28th. Finally, Barclays dropped their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Plymouth Industrial REIT presently has an average rating of "Hold" and a consensus target price of $22.44.
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About Plymouth Industrial REIT
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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.
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