Plymouth Industrial REIT’s (PLYM) “Market Outperform” Rating Reiterated at JMP Securities

Plymouth Industrial REIT (NYSE:PLYM)‘s stock had its “market outperform” rating restated by equities researchers at JMP Securities in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $27.00 price target on the stock. JMP Securities’ price target indicates a potential upside of 58.54% from the company’s previous close.

A number of other research firms also recently weighed in on PLYM. Truist Financial lowered their price target on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. BNP Paribas cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a report on Friday, November 8th. Robert W. Baird cut their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Barclays decreased their price target on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.89.

Plymouth Industrial REIT Trading Down 1.0 %

Shares of Plymouth Industrial REIT stock opened at $17.03 on Tuesday. 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 has a 1 year low of $16.37 and a 1 year high of $24.71. The firm has a market cap of $772.97 million, a PE ratio of 851.50, a PEG ratio of 1.47 and a beta of 1.34. The company has a 50 day simple moving average of $18.45 and a two-hundred day simple moving average of $21.17.

Insiders Place Their Bets

In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $18.39 per share, with a total value of $91,950.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $91,950. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey E. Witherell acquired 2,000 shares of Plymouth Industrial REIT stock in a transaction on Friday, November 15th. The shares were bought at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the completion of the transaction, the chief executive officer now owns 252,248 shares in the company, valued at approximately $4,664,065.52. This trade represents a 0.80 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Plymouth Industrial REIT

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jennison Associates LLC raised its stake in Plymouth Industrial REIT by 4.1% in the third quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock worth $99,471,000 after buying an additional 174,836 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Plymouth Industrial REIT by 1.0% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock valued at $63,372,000 after purchasing an additional 28,272 shares during the period. State Street Corp boosted its position in shares of Plymouth Industrial REIT by 1.4% during the third quarter. State Street Corp now owns 1,223,747 shares of the company’s stock valued at $27,949,000 after purchasing an additional 16,398 shares in the last quarter. Geode Capital Management LLC grew its stake in Plymouth Industrial REIT by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock worth $23,685,000 after purchasing an additional 29,924 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Plymouth Industrial REIT by 24.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock worth $20,583,000 after purchasing an additional 180,003 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other 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.