Truist Financial Has Lowered Expectations for Plymouth Industrial REIT (NYSE:PLYM) Stock Price

Plymouth Industrial REIT (NYSE:PLYM) had its target price cut by Truist Financial from $27.00 to $22.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 17.40% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Wedbush upped their target price on Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Robert W. Baird dropped their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. B. Riley boosted their target price on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Barclays decreased their price target on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Finally, BNP Paribas cut shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Plymouth Industrial REIT presently has a consensus rating of “Hold” and a consensus target price of $24.33.

Plymouth Industrial REIT Stock Down 0.4 %

PLYM traded down $0.08 on Friday, hitting $18.74. The company had a trading volume of 139,796 shares, compared to its average volume of 260,123. The stock has a market capitalization of $850.61 million, a price-to-earnings ratio of 937.00, a P/E/G ratio of 1.46 and a beta of 1.37. 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 stock has a fifty day moving average price of $20.86 and a 200-day moving average price of $21.86. Plymouth Industrial REIT has a 12-month low of $18.08 and a 12-month high of $25.55.

Insider Buying and Selling

In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White acquired 5,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $91,950. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey E. Witherell bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $18.49 per share, with a total value of $36,980.00. Following the purchase, the chief executive officer now owns 252,248 shares of the company’s stock, valued at $4,664,065.52. The trade was a 0.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Plymouth Industrial REIT by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock valued at $95,943,000 after buying an additional 115,318 shares during the period. American International Group Inc. grew its holdings in shares of Plymouth Industrial REIT by 2.5% during the first quarter. American International Group Inc. now owns 22,508 shares of the company’s stock worth $506,000 after buying an additional 544 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Plymouth Industrial REIT by 17.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,008 shares of the company’s stock valued at $293,000 after acquiring an additional 1,892 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Plymouth Industrial REIT by 2.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 22,192 shares of the company’s stock worth $470,000 after buying an additional 490 shares during the period. Finally, Tidal Investments LLC grew its stake in shares of Plymouth Industrial REIT by 5.8% during the 1st quarter. Tidal Investments LLC now owns 19,915 shares of the company’s stock valued at $448,000 after buying an additional 1,088 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.