Plymouth Industrial Reit (NYSEAMERICAN:PLYM) Upgraded to Buy 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 note issued to investors on Wednesday, April 11th. The firm currently has $19.00 price target 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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PLYM opened at $17.00 on Wednesday. Plymouth Industrial Reit has a 12-month low of $16.21 and a 12-month high of $19.00.

Plymouth Industrial Reit (NYSEAMERICAN:PLYM) last released its quarterly earnings data on Thursday, March 8th. The company reported ($1.44) EPS for the quarter, missing the consensus estimate of $0.08 by ($1.52). The business had revenue of $8.41 million for the quarter, compared to analysts’ expectations 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 firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, March 30th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 8.82%. The ex-dividend date is Wednesday, March 28th.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BB&T Securities LLC purchased a new position in Plymouth Industrial Reit during the 4th quarter valued at $507,000. Kennedy Capital Management Inc. purchased a new position in Plymouth Industrial Reit during the 4th quarter valued at $753,000. Finally, D.A. Davidson & CO. purchased a new position in Plymouth Industrial Reit during the 4th quarter valued at $516,000.

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Plymouth Industrial Reit Company Profile

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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