Plymouth Industrial REIT (NYSE:PLYM) Given New $22.00 Price Target at Barclays

Plymouth Industrial REIT (NYSE:PLYM) had its target price cut by Barclays from $25.00 to $22.00 in a report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also commented on the stock. B. Riley upped their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a report on Monday, August 5th. BMO Capital Markets lowered their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Wednesday, August 28th. Wedbush upped their price target on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, August 5th. BNP Paribas lowered shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target for the company. in a report on Friday, November 8th. Finally, Truist Financial upped their price objective on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $24.89.

Plymouth Industrial REIT Trading Down 0.1 %

Shares of PLYM opened at $18.36 on Monday. The firm has a 50 day moving average price of $21.45 and a 200-day moving average price of $21.96. Plymouth Industrial REIT has a fifty-two week low of $18.08 and a fifty-two week high of $25.55. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $833.36 million, a price-to-earnings ratio of 918.00, a PEG ratio of 1.43 and a beta of 1.37.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend was Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is presently 4,800.00%.

Insider Transactions at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White bought 5,000 shares of Plymouth Industrial REIT stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of $18.39 per share, with a total value of $91,950.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $91,950. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey E. Witherell bought 2,000 shares of Plymouth Industrial REIT stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the completion of the transaction, the chief executive officer now directly owns 252,248 shares in the company, valued at approximately $4,664,065.52. This trade represents a 0.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Institutional Trading of Plymouth Industrial REIT

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Plymouth Industrial REIT by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock valued at $23,685,000 after purchasing an additional 29,924 shares during the last quarter. Barclays PLC grew its position in Plymouth Industrial REIT by 321.2% during the 3rd quarter. Barclays PLC now owns 63,101 shares of the company’s stock valued at $1,426,000 after purchasing an additional 48,119 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Plymouth Industrial REIT by 1.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock valued at $1,064,000 after purchasing an additional 900 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in Plymouth Industrial REIT by 7.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 32,352 shares of the company’s stock valued at $731,000 after purchasing an additional 2,110 shares during the last quarter. Finally, Jane Street Group LLC grew its position in Plymouth Industrial REIT by 122.0% during the 3rd quarter. Jane Street Group LLC now owns 94,991 shares of the company’s stock valued at $2,147,000 after purchasing an additional 52,197 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Plymouth Industrial REIT Company Profile

Plymouth Industrial REIT, Inc (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost effective space that is functional, flexible and safe.