Brokerages Set Plymouth Industrial REIT, Inc. (NYSE:PLYM) Price Target at $27.60

Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYMGet Rating) have been assigned an average rating of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $27.60.

Separately, KeyCorp lowered their target price on Plymouth Industrial REIT from $32.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 28th.

Hedge Funds Weigh In On Plymouth Industrial REIT

Institutional investors have recently bought and sold shares of the business. Silvercrest Asset Management Group LLC boosted its holdings in shares of Plymouth Industrial REIT by 0.9% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 58,325 shares of the company’s stock worth $1,866,000 after acquiring an additional 500 shares during the period. Arizona State Retirement System boosted its holdings in shares of Plymouth Industrial REIT by 9.0% during the first quarter. Arizona State Retirement System now owns 8,887 shares of the company’s stock worth $241,000 after acquiring an additional 734 shares during the period. Loomis Sayles & Co. L P bought a new stake in shares of Plymouth Industrial REIT during the fourth quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Plymouth Industrial REIT by 63.9% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,000 shares of the company’s stock worth $35,000 after acquiring an additional 780 shares during the period. Finally, LDR Capital Management LLC boosted its holdings in shares of Plymouth Industrial REIT by 0.3% during the fourth quarter. LDR Capital Management LLC now owns 305,886 shares of the company’s stock worth $9,788,000 after acquiring an additional 841 shares during the period. Institutional investors and hedge funds own 96.69% of the company’s stock.

Plymouth Industrial REIT Price Performance

NYSE:PLYM opened at $21.25 on Friday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.32 and a current ratio of 0.32. The stock’s 50-day simple moving average is $19.74 and its 200 day simple moving average is $21.57. The company has a market cap of $852.72 million, a P/E ratio of -25.60, a P/E/G ratio of 1.69 and a beta of 1.25. Plymouth Industrial REIT has a 52-week low of $17.04 and a 52-week high of $32.37.

Plymouth Industrial REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Thursday, September 29th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently -106.02%.

About Plymouth Industrial REIT

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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.

Further Reading

Analyst Recommendations for Plymouth Industrial REIT (NYSE:PLYM)

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