Plymouth Industrial REIT (NYSE:PLYM) Given New $19.00 Price Target at JPMorgan Chase & Co.

Plymouth Industrial REIT (NYSE:PLYM) had its price target cut by JPMorgan Chase & Co. from $20.00 to $19.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

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 report on Friday, November 8th. Barclays cut their price objective on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Robert W. Baird cut their price objective 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. JMP Securities reissued a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research report on Tuesday. Finally, Truist Financial cut their price objective on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Plymouth Industrial REIT presently has a consensus rating of “Hold” and a consensus target price of $23.89.

Plymouth Industrial REIT Price Performance

Shares of NYSE:PLYM opened at $17.17 on Tuesday. Plymouth Industrial REIT has a fifty-two week low of $16.37 and a fifty-two week high of $24.71. The business has a 50-day moving average of $18.45 and a two-hundred day moving average of $21.17. The stock 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. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12.

Plymouth Industrial REIT Dividend Announcement

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

Insider Activity

In other Plymouth Industrial REIT news, CEO Jeffrey E. Witherell purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the transaction, the chief executive officer now directly owns 252,248 shares in the company, valued at approximately $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 SEC, which is available through this link. Also, Director Pendleton P. Jr. White purchased 5,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 5,000 shares in the company, valued at $91,950. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Plymouth Industrial REIT

Large investors have recently bought and sold shares of the business. Quarry LP grew 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 acquired a new position in Plymouth Industrial REIT during the 3rd quarter worth $43,000. Loomis Sayles & Co. L P lifted its holdings in Plymouth Industrial REIT by 3,130.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock worth $45,000 after buying an additional 1,941 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Plymouth Industrial REIT during the 3rd quarter worth $46,000. Finally, Point72 Hong Kong Ltd acquired a new position in Plymouth Industrial REIT during the 3rd quarter worth $123,000. 92.67% of the stock is currently owned by 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.