Plymouth Industrial REIT (NYSE:PLYM) Price Target Raised to $25.00 at Wedbush

Plymouth Industrial REIT (NYSE:PLYM) had its target price raised by Wedbush from $23.00 to $25.00 in a research report released on Monday, Benzinga reports. They currently have a neutral rating on the stock. Wedbush also issued estimates for Plymouth Industrial REIT’s Q3 2024 earnings at $0.46 EPS, Q4 2024 earnings at $0.50 EPS and FY2025 earnings at $2.05 EPS.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their price target on shares of Plymouth Industrial REIT from $24.00 to $23.00 and set an underweight rating on the stock in a research note on Wednesday, July 10th. B. Riley boosted their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a buy rating in a research note on Monday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Plymouth Industrial REIT presently has a consensus rating of Hold and a consensus price target of $24.67.

Plymouth Industrial REIT Stock Up 0.3 %

Shares of PLYM opened at $23.24 on Monday. The firm has a market cap of $1.05 billion, a P/E ratio of 54.05, a price-to-earnings-growth ratio of 1.81 and a beta of 1.36. Plymouth Industrial REIT has a 12-month low of $19.21 and a 12-month high of $25.55. The company’s 50-day moving average price is $22.24 and its 200 day moving average price is $21.75. The company has a current ratio of 0.16, a quick ratio of 0.12 and a debt-to-equity ratio of 1.49.

Plymouth Industrial REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend was Friday, June 28th. Plymouth Industrial REIT’s dividend payout ratio is presently 223.26%.

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue grew its position in shares of Plymouth Industrial REIT by 2.2% during the fourth quarter. State of Alaska Department of Revenue now owns 20,758 shares of the company’s stock worth $499,000 after buying an additional 447 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of 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 buying an additional 490 shares in the last quarter. Signaturefd LLC grew its position in shares of Plymouth Industrial REIT by 40.8% during the fourth quarter. Signaturefd LLC now owns 1,731 shares of the company’s stock worth $42,000 after buying an additional 502 shares in the last quarter. American International Group Inc. grew its position in shares of Plymouth Industrial REIT by 2.5% during the first quarter. American International Group Inc. now owns 22,508 shares of the company’s stock worth $506,000 after buying an additional 544 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of 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 worth $966,000 after buying an additional 578 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

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.