Plymouth Industrial Reit (PLYM) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Plymouth Industrial Reit (NYSEAMERICAN:PLYM) from a hold rating to a buy rating in a research report released on Wednesday, April 11th. The brokerage currently has $19.00 price objective on the stock.

According to Zacks, “Plymouth Industrial REIT, Inc. is a full service, vertically integrated real estate investment company. It focused on the acquisition and management of single and multi-tenant distribution centers, warehouses and light industrial properties, primarily located in secondary and select primary markets. Plymouth Industrial REIT, Inc. is based in Boston, United States. “

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Shares of PLYM stock opened at $16.80 on Wednesday. Plymouth Industrial Reit has a fifty-two week low of $16.21 and a fifty-two week high of $19.00.

Plymouth Industrial Reit (NYSEAMERICAN:PLYM) last announced its quarterly earnings data on Thursday, March 8th. The company reported ($1.44) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($1.52). The firm had revenue of $8.41 million during the quarter, compared to analyst estimates of $8.45 million. Plymouth Industrial Reit had a negative net margin of 42.59% and a negative return on equity of 98.43%.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, March 30th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 8.93%.

Several institutional investors and hedge funds have recently modified their holdings of the company. BB&T Securities LLC purchased a new stake in shares of Plymouth Industrial Reit in the fourth quarter worth about $507,000. D.A. Davidson & CO. purchased a new position in Plymouth Industrial Reit during the fourth quarter worth approximately $516,000. Finally, Kennedy Capital Management Inc. purchased a new position in Plymouth Industrial Reit during the fourth quarter worth approximately $753,000.

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About Plymouth Industrial Reit

Plymouth Industrial REIT, Inc, formerly Plymouth Opportunity REIT, Inc, is a self-administered and self-managed real estate investment trust. The Company primarily focused on single-tenant industrial properties and multi-tenant industrial properties. The Company also focused on the acquisition, ownership and management of single-and multi-tenant class B industrial properties, including distribution centers, warehouses and light industrial properties, primarily located in secondary and select primary markets across the Eastern half of the United States and Texas.

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