Plymouth Industrial REIT (NYSE:PLYM) Price Target Lowered to $18.00 at Truist Financial

Plymouth Industrial REIT (NYSE:PLYM) had its target price decreased by Truist Financial from $20.00 to $18.00 in a research report released on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other equities research analysts also recently weighed in on PLYM. JPMorgan Chase & Co. cut their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Robert W. Baird dropped their price target on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Wedbush set a $17.00 price objective on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. Finally, JMP Securities reiterated a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. 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 stock. Based on data from MarketBeat, Plymouth Industrial REIT has a consensus rating of “Hold” and a consensus price target of $22.00.

Plymouth Industrial REIT Stock Performance

Shares of Plymouth Industrial REIT stock opened at $17.09 on Monday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a 50 day simple moving average of $16.84 and a 200 day simple moving average of $18.93. Plymouth Industrial REIT has a fifty-two week low of $16.06 and a fifty-two week high of $24.71. The firm has a market cap of $778.47 million, a P/E ratio of 854.50 and a beta of 1.45.

Plymouth Industrial REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio is 31.37%.

Institutional Investors Weigh In On Plymouth Industrial REIT

Several institutional investors have recently added to or reduced their stakes in PLYM. Quarry LP lifted its holdings in shares of Plymouth Industrial REIT by 88.4% in the third quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after purchasing an additional 860 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in Plymouth Industrial REIT by 3,130.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after acquiring an additional 1,941 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Plymouth Industrial REIT during the 3rd quarter worth approximately $46,000. Quadrant Capital Group LLC boosted its position in Plymouth Industrial REIT by 38.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock worth $54,000 after acquiring an additional 844 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Plymouth Industrial REIT in the third quarter valued at approximately $123,000. 92.67% of the stock is owned by institutional investors.

About Plymouth Industrial REIT

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.