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

Plymouth Industrial REIT (NYSE:PLYM) had its price target lowered by Barclays from $25.00 to $22.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

PLYM has been the topic of several other reports. JMP Securities reissued a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. BMO Capital Markets decreased their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 28th. Robert W. Baird dropped their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. BNP Paribas downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price on the stock. in a research report on Friday, November 8th. Finally, Wedbush lifted their price target on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $24.89.

Plymouth Industrial REIT Stock Up 0.7 %

Shares of NYSE PLYM opened at $18.86 on Monday. Plymouth Industrial REIT has a 12-month low of $18.08 and a 12-month high of $25.55. The firm’s 50-day simple moving average is $21.20 and its 200 day simple moving average is $21.91. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The company has a market cap of $856.08 million, a price-to-earnings ratio of 943.03, a price-to-earnings-growth ratio of 1.44 and a beta of 1.37.

Plymouth Industrial REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 5.09%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 4,800.00%.

Insider Buying and Selling

In other Plymouth Industrial REIT news, CEO Jeffrey E. Witherell bought 2,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost 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 in the company, valued at $4,664,065.52. This trade represents a 0.80 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pendleton P. Jr. White bought 5,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were bought at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $91,950. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP boosted its position in Plymouth Industrial REIT by 88.4% during the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after acquiring an additional 860 shares during the last quarter. Copeland Capital Management LLC bought a new stake in shares of Plymouth Industrial REIT in the third quarter worth $43,000. Loomis Sayles & Co. L P boosted its holdings in Plymouth Industrial REIT by 3,130.6% during the third 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 last quarter. Point72 DIFC Ltd bought a new position in Plymouth Industrial REIT in the third quarter valued at $46,000. Finally, EntryPoint Capital LLC increased its position in shares of Plymouth Industrial REIT by 33.9% in the first quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock valued at $112,000 after acquiring an additional 1,266 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

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.