JPMorgan Chase & Co. Cuts Plymouth Industrial REIT (NYSE:PLYM) Price Target to $19.00

Plymouth Industrial REIT (NYSE:PLYM) had its price objective cut by JPMorgan Chase & Co. from $20.00 to $19.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an underweight rating on the stock.

Other analysts have also issued reports about the company. Barclays decreased their target price on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target for the company. in a research note on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Tuesday. Truist Financial cut their price target on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Finally, Robert W. Baird cut their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $23.89.

Plymouth Industrial REIT Stock Performance

Shares of Plymouth Industrial REIT stock opened at $17.21 on Tuesday. Plymouth Industrial REIT has a one year low of $16.37 and a one year high of $24.71. The firm has a market capitalization of $781.34 million, a price-to-earnings ratio of 860.70, a PEG ratio of 1.20 and a beta of 1.34. The business has a 50-day simple moving average of $18.37 and a 200 day simple moving average of $21.14. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12.

Plymouth Industrial REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.24 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.58%. Plymouth Industrial REIT’s 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 the business’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $91,950. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey E. Witherell bought 2,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $18.49 per share, for a total transaction of $36,980.00. Following the purchase, the chief executive officer now directly owns 252,248 shares in the company, valued at approximately $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. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of hedge funds have recently modified their holdings of PLYM. Quarry LP raised its holdings in shares of Plymouth Industrial REIT by 88.4% in the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after purchasing an additional 860 shares during the period. Copeland Capital Management LLC bought a new stake in shares of Plymouth Industrial REIT in the 3rd quarter worth approximately $43,000. Loomis Sayles & Co. L P raised its holdings in shares of Plymouth Industrial REIT by 3,130.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock worth $45,000 after purchasing an additional 1,941 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Plymouth Industrial REIT in the 3rd quarter worth approximately $46,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Plymouth Industrial REIT in the 3rd quarter worth approximately $123,000. Institutional investors own 92.67% of the company’s stock.

About Plymouth Industrial REIT

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.