Madison International Realty Hold recently announced the acquisition of new stake in Plymouth Industrial REIT Inc. (NYSE:PLYM). The institutional investor has increased its shareholding in the Real Estate company by 61.35% to 5.04 million shares with purchase of 1.92 million shares. This fresh investment now brings its stake to 11.76% valued currently at $96.62 million. In addition, FIAM LLC raised its holdings by 0.43 million to 4.0 million shares. And The Vanguard Group, Inc. has lifted its position by 2.17% or 83971.0 shares – to 3.96 million shares.
With over 0.13 million Plymouth Industrial REIT Inc. (PLYM) shares trading Friday and a closing price of $20.80 on the day, the dollar volume was approximately $2.76 million. The shares have shown a positive half year performance of 13.79% and its price on 01/20/23 lost nearly -0.72%. Currently, there are 41.13M common shares owned by the public and among those 37.30M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for PLYM have a consensus price objective of $23.17. The analysts have set the share’s price value over the next 12 months at a high of $25.00 and a low of $21.00. The average price target is 10.23% above its recent price level and an upside to the estimated low will see the stock gain 0.95% over that period. But an upside of 16.8% will see the stock hit the forecast high price target while median target price for the stock is $23.00.
Insiders at the company have transacted a total of 16 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 50,228 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 36,035 shares.
The top 3 mutual fund holders in Plymouth Industrial REIT Inc. are Vanguard Real Estate Index Fund, Fidelity Strategic Advisers US To, and Vanguard Total Stock Market Index. Vanguard Real Estate Index Fund owns 1.79 million shares of the company’s stock, all valued at over $34.39 million. The company sold 18733.0 shares recently to bring their total holdings to about 4.18% of the shares outstanding. Fidelity Strategic Advisers US To sold -0.45 million shares to see its total holdings shrink to 1.39 million shares valued at over $26.67 million and representing 3.25% of the shares outstanding. Vanguard Total Stock Market Index bought 0.19 million shares to bring its total holdings to over 1.35 million shares at a value of $25.99 million. Vanguard Total Stock Market Index now owns shares totaling to 3.16% of the shares outstanding.
Shares of Plymouth Industrial REIT Inc. (NYSE: PLYM) opened at $21.06, up $0.11 from a prior closing price of $20.95. However, the script later moved the day high at 21.06, down -0.72%. The company’s stock has a 5-day price change of -0.38% and 18.93% over the past three months. PLYM shares are trading 8.45% year to date (YTD), with the 12-month market performance down to -25.53% lower. It has a 12-month low price of $15.59 and touched a high of $29.11 over the same period. PLYM has an average intraday trading volume of 191.05K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.05%, 4.11%, and 4.28% respectively.
Institutional ownership of Plymouth Industrial REIT Inc. (NYSE: PLYM) shares accounts for 97.40% of the company’s 41.13M shares outstanding. Mutual fund holders own 39.34%, while other institutional holders and individual stakeholders account for 56.41% and 0.97% respectively.
It has a market capitalization of $897.73M and a beta (3y monthly) value of 1.38. The earnings-per-share (ttm) stands at -$0.81. The company has a debt-to-equity ratio at 1.87. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.95% over the week and 2.66% over the month.
Analysts forecast that Plymouth Industrial REIT Inc. (PLYM) will achieve an EPS of -$0.16 for the current quarter, -$0.13 for the next quarter and -$0.4 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.16 while analysts give the company a high EPS estimate of -$0.16. Comparatively, EPS for the current quarter was -$0.22 a year ago. Earnings per share for the fiscal year are expected to increase by 38.10%, and 29.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Plymouth Industrial REIT Inc. (PLYM) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 2 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
B. Riley Securities coverage for the Plymouth Industrial REIT Inc. (PLYM) stock in a research note released on March 02, 2022 offered a Buy rating with a price target of $32. BMO Capital Markets was of a view on February 07, 2022 that the stock is Market Perform, while Truist gave the stock Buy rating on January 27, 2022, issuing a price target of $31. JMP Securities on their part issued Mkt Outperform rating on February 02, 2021.