Plymouth Industrial REIT (NYSE:PLYM) Price Target Lowered to $20.00 at Robert W. Baird

Plymouth Industrial REIT (NYSE:PLYM - Free Report) had its target price cut by Robert W. Baird from $21.00 to $20.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also weighed in on PLYM. JMP Securities reaffirmed a "market outperform" rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. BNP Paribas lowered shares of Plymouth Industrial REIT from an "outperform" rating to a "neutral" rating and set a $23.00 price target on the stock. in a report on Friday, November 8th. 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 report on Monday, November 18th. Truist Financial lowered shares of Plymouth Industrial REIT from a "buy" rating to a "hold" rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. decreased their price target 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, January 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $23.33.

Remove Ads

Plymouth Industrial REIT Price Performance

Plymouth Industrial REIT stock traded up $0.31 during midday trading on Wednesday, reaching $17.06. 330,194 shares of the stock were exchanged, compared to its average volume of 340,282. The company's fifty day moving average is $16.89 and its 200-day moving average is $19.49. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $774.11 million, a PE ratio of 852.75 and a beta of 1.45. Plymouth Industrial REIT has a 52 week low of $16.06 and a 52 week high of $24.71.

Plymouth Industrial REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.63%. The ex-dividend date of this dividend was Tuesday, December 31st. Plymouth Industrial REIT's dividend payout ratio is currently 31.37%.

Hedge Funds Weigh In On Plymouth Industrial REIT

Institutional investors and hedge funds have recently made changes to their positions in the business. Thrivent Financial for Lutherans grew its holdings in Plymouth Industrial REIT by 6.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 455,092 shares of the company's stock worth $10,285,000 after acquiring an additional 27,463 shares during the last quarter. Barclays PLC grew its holdings in Plymouth Industrial REIT by 321.2% in the 3rd quarter. Barclays PLC now owns 63,101 shares of the company's stock worth $1,426,000 after acquiring an additional 48,119 shares during the last quarter. Foundry Partners LLC bought a new stake in Plymouth Industrial REIT in the 3rd 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 worth $23,685,000 after acquiring an additional 29,924 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 acquiring an additional 38,850 shares during the last quarter. Institutional investors own 92.67% of the company's stock.

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.