Truist Financial Issues Pessimistic Forecast for Plymouth Industrial REIT (NYSE:PLYM) Stock Price

Plymouth Industrial REIT (NYSE:PLYM) had its target price reduced by Truist Financial from $27.00 to $22.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 17.40% from the company’s previous close.

Other research analysts also recently issued reports about the stock. JMP Securities restated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. B. Riley boosted their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. 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 report on Monday, November 18th. BNP Paribas cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price on the stock. in a report on Friday, November 8th. Finally, BMO Capital Markets lowered their price objective on shares of 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Plymouth Industrial REIT presently has an average rating of “Hold” and an average target price of $24.33.

Plymouth Industrial REIT Stock Down 0.4 %

PLYM traded down $0.08 during trading on Friday, hitting $18.74. The company had a trading volume of 139,796 shares, compared to its average volume of 260,123. Plymouth Industrial REIT has a 1-year low of $18.08 and a 1-year high of $25.55. 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 company has a market cap of $850.61 million, a PE ratio of 937.00, a P/E/G ratio of 1.46 and a beta of 1.37. The business has a 50-day moving average of $20.86 and a 200-day moving average of $21.86.

Insider Transactions at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, CEO Jeffrey E. Witherell bought 2,000 shares of Plymouth Industrial REIT stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $18.49 per share, with a total value of $36,980.00. Following the acquisition, the chief executive officer now directly owns 252,248 shares of the company’s stock, valued at $4,664,065.52. The trade was a 0.80 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Pendleton P. Jr. White bought 5,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $91,950. The trade was 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

A number of institutional investors have recently modified their holdings of PLYM. B. Riley Wealth Advisors Inc. boosted its holdings in Plymouth Industrial REIT by 2.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 22,192 shares of the company’s stock valued at $470,000 after acquiring an additional 490 shares during the last quarter. American International Group Inc. boosted its stake in Plymouth Industrial REIT by 2.5% in the first quarter. American International Group Inc. now owns 22,508 shares of the company’s stock valued at $506,000 after acquiring an additional 544 shares during the last quarter. Quarry LP grew its holdings 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 period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Plymouth Industrial REIT by 1.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock valued at $1,064,000 after purchasing an additional 900 shares during the period. Finally, Tidal Investments LLC lifted its stake in Plymouth Industrial REIT by 5.8% in the first quarter. Tidal Investments LLC now owns 19,915 shares of the company’s stock valued at $448,000 after buying an additional 1,088 shares during the period. 92.67% of the stock is owned by institutional investors.

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.