KeyCorp Cuts Plymouth Industrial REIT (NYSE:PLYM) Price Target to $18.00

Plymouth Industrial REIT (NYSE:PLYM) had its price target decreased by KeyCorp from $23.00 to $18.00 in a report released on Tuesday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

PLYM has been the topic of several other research reports. Robert W. Baird decreased their target price on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. JMP Securities restated a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. JPMorgan Chase & Co. dropped their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Barclays decreased their price target on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, March 31st. Finally, Wedbush set a $17.00 price objective on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Plymouth Industrial REIT has a consensus rating of “Hold” and a consensus price target of $21.20.

Plymouth Industrial REIT Price Performance

Shares of NYSE PLYM opened at $13.72 on Tuesday. 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 $625.01 million, a PE ratio of 686.05 and a beta of 1.19. Plymouth Industrial REIT has a one year low of $12.70 and a one year high of $24.71. The firm has a fifty day moving average of $16.37 and a 200 day moving average of $18.19.

Plymouth Industrial REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 7.00%. The ex-dividend date of this dividend is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio is presently 31.37%.

Institutional Investors Weigh In On Plymouth Industrial REIT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLYM. Barclays PLC increased its position in shares of Plymouth Industrial REIT by 321.2% during the third quarter. Barclays PLC now owns 63,101 shares of the company’s stock valued at $1,426,000 after acquiring an additional 48,119 shares during the last quarter. Geode Capital Management LLC increased its holdings in Plymouth Industrial REIT by 2.9% in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Plymouth Industrial REIT by 137.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,201 shares of the company’s stock worth $1,519,000 after buying an additional 38,850 shares during the period. Captrust Financial Advisors acquired a new stake in shares of Plymouth Industrial REIT in the third quarter valued at $248,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Plymouth Industrial REIT by 40.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,884 shares of the company’s stock valued at $269,000 after buying an additional 3,448 shares during the period. Institutional investors and hedge funds 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.