Plymouth Industrial REIT’s (PLYM) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of Plymouth Industrial REIT (NYSE:PLYMFree Report) in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a $27.00 price target on the stock.

Other analysts also recently issued reports about the stock. Truist Financial cut their target price on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. BNP Paribas lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research report on Friday, November 8th. Robert W. Baird reduced their price objective 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. Finally, Barclays lowered their target price on 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Plymouth Industrial REIT presently has a consensus rating of “Hold” and an average price target of $23.89.

View Our Latest Stock Report on PLYM

Plymouth Industrial REIT Stock Up 2.6 %

PLYM stock opened at $17.17 on Tuesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market capitalization of $779.33 million, a P/E ratio of 858.50, a P/E/G ratio of 1.47 and a beta of 1.34. Plymouth Industrial REIT has a 52-week low of $16.37 and a 52-week high of $24.71. The company’s 50 day simple moving average is $18.45 and its 200-day simple moving average is $21.17.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.96 dividend on an annualized basis and a yield of 5.59%. Plymouth Industrial REIT’s dividend payout ratio is currently 4,800.00%.

Insider Activity at Plymouth Industrial REIT

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

Hedge Funds Weigh In On Plymouth Industrial REIT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Adams Asset Advisors LLC bought a new stake in shares of Plymouth Industrial REIT during the 4th quarter worth $1,068,000. JPMorgan Chase & Co. increased its stake in shares of Plymouth Industrial REIT by 8.1% in the third quarter. JPMorgan Chase & Co. now owns 890,653 shares of the company’s stock worth $20,129,000 after purchasing an additional 66,886 shares during the period. Tidal Investments LLC lifted its position in shares of Plymouth Industrial REIT by 7.4% during the 3rd quarter. Tidal Investments LLC now owns 23,433 shares of the company’s stock worth $530,000 after purchasing an additional 1,614 shares during the last quarter. Barclays PLC boosted its stake 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 period. Finally, Geode Capital Management LLC lifted its holdings in shares of Plymouth Industrial REIT by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock worth $23,685,000 after buying an additional 29,924 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

About Plymouth Industrial REIT

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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.

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Analyst Recommendations for Plymouth Industrial REIT (NYSE:PLYM)

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