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

Plymouth Industrial REIT (NYSE:PLYM) had its target price cut by stock analysts at JPMorgan Chase & Co. from $20.00 to $19.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 11.57% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. 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 reiterated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a report on Tuesday. BNP Paribas cut shares of 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 lowered 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 research report on Monday, November 18th. Finally, Truist Financial dropped their target price on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a report on Friday, November 29th. One 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.89.

Plymouth Industrial REIT Stock Performance

NYSE PLYM opened at $17.03 on Tuesday. The stock has a market capitalization of $772.97 million, a price-to-earnings ratio of 851.50, a PEG ratio of 1.47 and a beta of 1.34. The business’s 50 day moving average is $18.45 and its two-hundred day moving average is $21.17. Plymouth Industrial REIT has a 12-month low of $16.37 and a 12-month high of $24.71. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42.

Insider Transactions at Plymouth Industrial REIT

In other news, CEO Jeffrey E. Witherell acquired 2,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $18.49 per share, with a total value of $36,980.00. Following the completion of the transaction, the chief executive officer now directly owns 252,248 shares in the company, valued at approximately $4,664,065.52. This represents a 0.80 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pendleton P. Jr. White acquired 5,000 shares of Plymouth Industrial REIT stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $91,950. This trade represents 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

Several institutional investors have recently added to or reduced their stakes in PLYM. Hennion & Walsh Asset Management Inc. boosted its stake in Plymouth Industrial REIT by 30.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 11,628 shares of the company’s stock worth $207,000 after buying an additional 2,697 shares during the last quarter. Adams Asset Advisors LLC purchased a new position in shares of Plymouth Industrial REIT during the 4th quarter worth about $1,068,000. JPMorgan Chase & Co. boosted its position in shares of Plymouth Industrial REIT by 8.1% in the third quarter. JPMorgan Chase & Co. now owns 890,653 shares of the company’s stock worth $20,129,000 after acquiring an additional 66,886 shares during the last quarter. Tidal Investments LLC grew its holdings in Plymouth Industrial REIT by 7.4% in the third quarter. Tidal Investments LLC now owns 23,433 shares of the company’s stock valued at $530,000 after purchasing an additional 1,614 shares during the period. Finally, Barclays PLC increased its position in Plymouth Industrial REIT by 321.2% during the third quarter. Barclays PLC now owns 63,101 shares of the company’s stock worth $1,426,000 after purchasing an additional 48,119 shares during the last quarter. 92.67% of the stock is currently 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.