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. “
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.
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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Plymouth Industrial Reit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plymouth Industrial Reit and related companies with MarketBeat.com's FREE daily email newsletter.