Plymouth Industrial REIT (NYSE:PLYM) Downgraded to "Hold" Rating by Truist Financial

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) was downgraded by investment analysts at Truist Financial from a "buy" rating to a "hold" rating in a note issued to investors on Friday, Marketbeat reports.

Other equities analysts have also issued reports about the stock. Barclays lowered 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 report on Monday, November 18th. Robert W. Baird decreased their target price on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an "outperform" rating on the stock in a report on Tuesday, November 12th. JPMorgan Chase & Co. decreased their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an "underweight" rating on the stock in a report on Tuesday. JMP Securities reiterated a "market outperform" rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a report on Tuesday. Finally, BNP Paribas lowered shares of Plymouth Industrial REIT from an "outperform" rating to a "neutral" rating and set a $23.00 target price on the stock. in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $23.89.

Plymouth Industrial REIT Price Performance

PLYM traded down $0.58 on Friday, reaching $16.65. 702,309 shares of the company's stock were exchanged, compared to its average volume of 259,200. The stock has a market cap of $755.74 million, a PE ratio of 832.50, a P/E/G ratio of 1.20 and a beta of 1.34. Plymouth Industrial REIT has a twelve month low of $16.37 and a twelve month high of $24.71. The stock's fifty day moving average price is $18.21 and its 200-day moving average price is $21.08. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12.

Insider Activity at Plymouth Industrial REIT

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLYM. Thrivent Financial for Lutherans grew its holdings in shares of Plymouth Industrial REIT by 6.4% during the third quarter. Thrivent Financial for Lutherans now owns 455,092 shares of the company's stock worth $10,285,000 after buying an additional 27,463 shares in the last quarter. Barclays PLC lifted its stake in shares of Plymouth Industrial REIT by 321.2% during the 3rd 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 period. Foundry Partners LLC acquired a new stake in shares of Plymouth Industrial REIT during the third quarter worth $3,725,000. Geode Capital Management LLC grew its holdings in Plymouth Industrial REIT by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company's stock valued at $23,685,000 after buying an additional 29,924 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Plymouth Industrial REIT by 137.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,201 shares of the company's stock worth $1,519,000 after buying an additional 38,850 shares during the period. 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.