Barclays Forecasts Strong Price Appreciation for Plymouth Industrial REIT (NYSE:PLYM) Stock

by · The Cerbat Gem

Plymouth Industrial REIT (NYSE:PLYM – Free Report) had its price target boosted by Barclays from $18.00 to $24.00 in a report published on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also recently commented on PLYM. Wedbush upgraded shares of Plymouth Industrial REIT to a “hold” rating in a report on Wednesday, July 2nd. BMO Capital Markets increased their target price on Plymouth Industrial REIT from $17.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, August 21st. Citizens Jmp cut Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. JMP Securities reiterated a “market perform” rating on shares of Plymouth Industrial REIT in a report on Wednesday, August 20th. Finally, Wall Street Zen raised shares of Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.33.

Read Our Latest Stock Analysis on Plymouth Industrial REIT

Plymouth Industrial REIT Trading Down 0.4%

Shares of NYSE PLYM opened at $21.88 on Monday. Plymouth Industrial REIT has a 1 year low of $12.70 and a 1 year high of $23.40. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a 50-day moving average of $18.06 and a 200 day moving average of $16.67. The stock has a market cap of $974.53 million, a P/E ratio of 7.60 and a beta of 1.17.

Plymouth Industrial REIT (NYSE:PLYM – Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Plymouth Industrial REIT had a return on equity of 24.24% and a net margin of 67.77%.The firm had revenue of $47.20 million for the quarter, compared to analysts’ expectations of $46.20 million. As a group, sell-side analysts expect that Plymouth Industrial REIT will post 1.83 EPS for the current fiscal year.

Plymouth Industrial REIT Announces Dividend

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

Institutional Trading of Plymouth Industrial REIT

A number of large investors have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. raised its holdings in shares of Plymouth Industrial REIT by 33.0% during the 4th quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company’s stock worth $64,634,000 after acquiring an additional 901,251 shares in the last quarter. MetLife Investment Management LLC lifted its position in Plymouth Industrial REIT by 2,406.8% during the first quarter. MetLife Investment Management LLC now owns 656,826 shares of the company’s stock valued at $10,706,000 after purchasing an additional 630,624 shares during the last quarter. Strs Ohio bought a new position in Plymouth Industrial REIT during the first quarter valued at $6,652,000. Peregrine Capital Management LLC purchased a new position in shares of Plymouth Industrial REIT in the 1st quarter worth $5,199,000. Finally, BROOKFIELD Corp ON purchased a new stake in shares of Plymouth Industrial REIT during the 1st quarter valued at about $3,894,000. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Company Profile

(Get Free Report)

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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