Plymouth Industrial REIT (NYSE:PLYM) Price Target Cut to $25.00 by Analysts at Robert W. Baird

Plymouth Industrial REIT (NYSE:PLYM) had its price target cut by Robert W. Baird from $26.00 to $25.00 in a research report released on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

PLYM has been the subject of several other research reports. Barclays upped their price target on shares of Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Truist Financial lifted 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 note on Wednesday, August 28th. B. Riley upped their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. BNP Paribas cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target for the company. in a research report on Friday, November 8th. Finally, Wedbush increased their target price on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.22.

Plymouth Industrial REIT Stock Down 5.8 %

PLYM stock opened at $19.65 on Tuesday. Plymouth Industrial REIT has a 1-year low of $19.64 and a 1-year high of $25.55. The business has a fifty day moving average price of $21.88 and a 200-day moving average price of $22.03. The stock has a market capitalization of $892.11 million, a P/E ratio of 982.50, a P/E/G ratio of 1.62 and a beta of 1.37. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.16 and a quick ratio of 0.16.

Plymouth Industrial REIT Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 4.89%. Plymouth Industrial REIT’s dividend payout ratio is currently 4,800.00%.

Insider Buying and Selling at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of Plymouth Industrial REIT stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $23.58, for a total value of $13,285,868.04. Following the sale, the insider now owns 4,474,292 shares of the company’s stock, valued at $105,503,805.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Trading of Plymouth Industrial REIT

Several hedge funds have recently made changes to their positions in the business. Copeland Capital Management LLC bought a new stake in Plymouth Industrial REIT during the third quarter worth approximately $43,000. EntryPoint Capital LLC increased its position in shares of Plymouth Industrial REIT by 33.9% during the 1st quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock valued at $112,000 after purchasing an additional 1,266 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in Plymouth Industrial REIT by 431.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock valued at $202,000 after buying an additional 7,668 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in Plymouth Industrial REIT in the third quarter worth about $202,000. Finally, SG Americas Securities LLC bought a new position in shares of Plymouth Industrial REIT during the 3rd quarter worth $204,000. 92.67% of the stock is currently owned by hedge funds and other 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.