Plymouth Industrial REIT, Inc. (PLYM) To Go Ex-Dividend on December 31st

Plymouth Industrial REIT, Inc. (NYSE:PLYM) announced a quarterly dividend on Friday, December 13th,NASDAQ Dividends reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.24 per share on Friday, January 31st. This represents a $0.96 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Tuesday, December 31st.

Plymouth Industrial REIT has a payout ratio of 1,285.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Plymouth Industrial REIT to earn $1.98 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 45.5%.

Plymouth Industrial REIT Stock Up 1.2 %

Shares of NYSE:PLYM opened at $18.93 on Friday. Plymouth Industrial REIT has a 1 year low of $18.08 and a 1 year high of $25.55. The company has a market capitalization of $859.21 million, a PE ratio of 946.50, a price-to-earnings-growth ratio of 1.46 and a beta of 1.34. The business has a fifty day moving average price of $19.95 and a two-hundred day moving average price of $21.69. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PLYM shares. Truist Financial decreased their price objective on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 29th. Barclays decreased their price target on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. BMO Capital Markets reduced their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Wednesday, August 28th. JMP Securities reissued a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. Finally, Robert W. Baird dropped their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Plymouth Industrial REIT presently has a consensus rating of “Hold” and an average price target of $24.33.

Insider Transactions at Plymouth Industrial REIT

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

About Plymouth Industrial REIT

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.