BNP Paribas cut shares of Plymouth Industrial REIT (NYSE:PLYM - Free Report) from an outperform rating to a neutral rating in a research note published on Friday morning, Marketbeat.com reports. The brokerage currently has $23.00 target price on the stock.
Other research analysts have also recently issued reports about the stock. JMP Securities restated a "market outperform" rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. BMO Capital Markets decreased their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set a "market perform" rating for the company in a research report on Wednesday, August 28th. Truist Financial 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 report on Wednesday, August 28th. Barclays boosted their target price on Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 14th. Finally, Wedbush upped their price objective on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the company 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 three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $25.25.
Read Our Latest Stock Analysis on PLYM
Plymouth Industrial REIT Stock Up 1.0 %
Plymouth Industrial REIT stock traded up $0.21 during trading on Friday, hitting $20.90. 601,439 shares of the company were exchanged, compared to its average volume of 250,842. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49. The business's 50 day moving average is $22.00 and its 200 day moving average is $22.01. Plymouth Industrial REIT has a 52 week low of $19.84 and a 52 week high of $25.55. The company has a market capitalization of $948.86 million, a P/E ratio of 1,049.00, a PEG ratio of 1.61 and a beta of 1.37.
Plymouth Industrial REIT Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a dividend of $0.24 per share. The ex-dividend date was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 4.59%. Plymouth Industrial REIT's payout ratio is 4,800.00%.
Insider Activity
In other Plymouth Industrial REIT news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the transaction, the insider now directly owns 4,474,292 shares in the company, valued at $105,503,805.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.40% of the company's stock.
Institutional Trading of Plymouth Industrial REIT
Several large investors have recently bought and sold shares of PLYM. Copeland Capital Management LLC purchased a new stake in Plymouth Industrial REIT in the third quarter worth $43,000. EntryPoint Capital LLC increased its stake in 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in Plymouth Industrial REIT by 431.0% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company's stock worth $202,000 after buying an additional 7,668 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Plymouth Industrial REIT in the third quarter worth approximately $202,000. Finally, SG Americas Securities LLC bought a new stake in shares of Plymouth Industrial REIT during the third quarter valued at approximately $204,000. 92.67% of the stock is owned by institutional investors.
About Plymouth Industrial REIT
(
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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.
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