Barclays Has Lowered Expectations for Plymouth Industrial REIT (NYSE:PLYM) Stock Price

Plymouth Industrial REIT (NYSE:PLYM) had its price objective cut by Barclays from $25.00 to $22.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts have also issued reports on PLYM. B. Riley upped their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Wedbush increased their target price 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. JMP Securities reissued a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. BMO Capital Markets reduced their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 28th. Finally, Robert W. Baird lowered their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.89.

Plymouth Industrial REIT Price Performance

Shares of NYSE:PLYM opened at $18.73 on Monday. The company’s fifty day moving average price is $21.28 and its 200-day moving average price is $21.93. Plymouth Industrial REIT has a one year low of $18.08 and a one year high of $25.55. 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 market capitalization of $850.14 million, a price-to-earnings ratio of 936.50, a PEG ratio of 1.43 and a beta of 1.37.

Plymouth Industrial REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.13%. Plymouth Industrial REIT’s dividend payout ratio is presently 4,800.00%.

Insider Buying and Selling

In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White bought 5,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at approximately $91,950. This represents a ? increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey E. Witherell purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $18.49 per share, with a total value of $36,980.00. Following the completion of the purchase, 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 currently owned by insiders.

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP raised its position in shares of Plymouth Industrial REIT by 88.4% in 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 bought a new position in shares of Plymouth Industrial REIT in the third quarter worth approximately $43,000. Loomis Sayles & Co. L P lifted its stake 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 worth $45,000 after buying an additional 1,941 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Plymouth Industrial REIT in the 3rd quarter worth approximately $46,000. Finally, EntryPoint Capital LLC lifted its position in Plymouth Industrial REIT by 33.9% in the 1st quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock valued at $112,000 after acquiring an additional 1,266 shares in 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.