Plymouth Industrial Reit (PLYM) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Plymouth Industrial Reit (NYSEAMERICAN:PLYM) from a strong sell rating to a hold rating in a report released on Wednesday morning.

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. “

Plymouth Industrial Reit (NYSEAMERICAN PLYM) opened at $17.59 on Wednesday. Plymouth Industrial Reit has a one year low of $16.35 and a one year high of $19.00. The stock has a market cap of $67.26 and a P/E ratio of 0.55.

Plymouth Industrial Reit (NYSEAMERICAN:PLYM) last released its quarterly earnings data on Thursday, November 9th. The company reported ($2.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($3.03). Plymouth Industrial Reit had a negative net margin of 42.59% and a negative return on equity of 98.43%. The business had revenue of $16.63 million for the quarter, compared to the consensus estimate of $6.47 million.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, December 29th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.50 dividend on an annualized basis and a yield of 8.53%. Plymouth Industrial Reit’s payout ratio is 4.67%.

An institutional investor recently bought a new position in Plymouth Industrial Reit stock. D.A. Davidson & CO. bought a new stake in shares of Plymouth Industrial Reit Inc (NYSEAMERICAN:PLYM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,421 shares of the company’s stock, valued at approximately $120,000. D.A. Davidson & CO. owned about 1.94% of Plymouth Industrial Reit as of its most recent SEC filing.

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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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