Plymouth Industrial REIT (NYSE:PLYM) Given New $22.00 Price Target at Truist Financial

Plymouth Industrial REIT (NYSE:PLYM - Free Report) had its price objective trimmed by Truist Financial from $27.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the company. Barclays dropped their price target on Plymouth Industrial REIT from $25.00 to $22.00 and set an "equal weight" rating for the company in a research note on Monday, November 18th. Wedbush boosted their price objective on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Monday, August 5th. Robert W. Baird lowered their price target 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. 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 research report on Friday, November 8th. Finally, B. Riley increased their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a "buy" 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 four have issued a buy rating to the company's stock. According to data from MarketBeat, Plymouth Industrial REIT has an average rating of "Hold" and an average price target of $24.33.

Plymouth Industrial REIT Stock Down 0.4 %

NYSE PLYM traded down $0.08 during mid-day trading on Friday, hitting $18.74. The company's stock had a trading volume of 139,796 shares, compared to its average volume of 260,123. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. The company's 50 day simple moving average is $20.69 and its 200 day simple moving average is $21.84. The firm has a market capitalization of $850.61 million, a price-to-earnings ratio of 937.00, a PEG ratio of 1.46 and a beta of 1.37. Plymouth Industrial REIT has a twelve month low of $18.08 and a twelve month high of $25.55.

Plymouth Industrial REIT Announces Dividend

The business also recently announced 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. This represents a $0.96 annualized dividend and a yield of 5.12%. The ex-dividend date was Monday, September 30th. Plymouth Industrial REIT's dividend payout ratio is presently 4,800.00%.

Insider Activity at Plymouth Industrial REIT

In other 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 purchased at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the transaction, the director now owns 5,000 shares of the company's stock, valued at $91,950. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey E. Witherell bought 2,000 shares of the company's stock in a transaction on Friday, November 15th. The stock was bought at an average price of $18.49 per share, with a total value of $36,980.00. Following the completion of the acquisition, the chief executive officer now owns 252,248 shares in the company, valued at $4,664,065.52. This represents a 0.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Plymouth Industrial REIT

Several large investors have recently added to or reduced their stakes in the business. Quarry LP grew its position in Plymouth Industrial REIT by 88.4% during the 3rd quarter. Quarry LP now owns 1,833 shares of the company's stock worth $41,000 after purchasing an additional 860 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in Plymouth Industrial REIT during the 3rd quarter valued at $43,000. Loomis Sayles & Co. L P raised its position in shares of Plymouth Industrial REIT by 3,130.6% in the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company's stock valued at $45,000 after buying an additional 1,941 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Plymouth Industrial REIT during the third quarter worth $46,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Plymouth Industrial REIT during the 3rd quarter worth about $123,000. 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.