JPMorgan Chase & Co. Has Lowered Expectations for Plymouth Industrial REIT (NYSE:PLYM) Stock Price

Plymouth Industrial REIT (NYSE:PLYM) had its price target lowered by JPMorgan Chase & Co. from $20.00 to $19.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 11.57% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. BNP Paribas cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research note on Friday, November 8th. Barclays reduced their target price on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. JMP Securities reissued a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a research report on Tuesday. Truist Financial reduced their price objective on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Finally, Robert W. Baird lowered their target price on shares of 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.89.

Plymouth Industrial REIT Stock Down 1.0 %

Shares of NYSE PLYM opened at $17.03 on Tuesday. Plymouth Industrial REIT has a 12-month low of $16.37 and a 12-month high of $24.71. The stock has a market cap of $772.97 million, a P/E ratio of 851.50, a PEG ratio of 1.47 and a beta of 1.34. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. The business’s fifty day simple moving average is $18.45 and its 200-day simple moving average is $21.17.

Insider Buying and Selling at Plymouth Industrial REIT

In other news, Director Pendleton P. Jr. White acquired 5,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $18.39 per share, with a total value of $91,950.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $91,950. The trade was 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 cost of $18.49 per share, for a total transaction of $36,980.00. Following the completion of the acquisition, 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. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Plymouth Industrial REIT

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. increased its position in Plymouth Industrial REIT by 7.6% in the 2nd quarter. Victory Capital Management Inc. now owns 55,100 shares of the company’s stock valued at $1,178,000 after acquiring an additional 3,900 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Plymouth Industrial REIT by 9.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 198,431 shares of the company’s stock valued at $4,242,000 after purchasing an additional 17,710 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Plymouth Industrial REIT by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company’s stock valued at $11,480,000 after purchasing an additional 4,265 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Plymouth Industrial REIT by 0.6% during the second quarter. Thrivent Financial for Lutherans now owns 427,629 shares of the company’s stock worth $9,143,000 after purchasing an additional 2,683 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of Plymouth Industrial REIT by 1.0% during the second quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock worth $63,372,000 after purchasing an additional 28,272 shares during the period. 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.