Robert W. Baird Has Lowered Expectations for Plymouth Industrial REIT (NYSE:PLYM) Stock Price

Plymouth Industrial REIT (NYSE:PLYM) had its price objective lowered by Robert W. Baird from $26.00 to $25.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts also recently issued reports about the stock. BMO Capital Markets cut their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 28th. JMP Securities reiterated a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. BNP Paribas lowered shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target for the company. in a report on Friday, November 8th. Wedbush raised their price objective on Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Finally, Truist Financial increased their price target on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.22.

Plymouth Industrial REIT Stock Performance

Plymouth Industrial REIT stock opened at $18.62 on Tuesday. The company’s 50-day moving average is $21.63 and its two-hundred day moving average is $21.98. The company has a market cap of $845.35 million, a PE ratio of 931.00, a PEG ratio of 1.52 and a beta of 1.37. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49. Plymouth Industrial REIT has a 1 year low of $18.55 and a 1 year high of $25.55.

Plymouth Industrial REIT Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 5.16%. Plymouth Industrial REIT’s payout ratio is currently 4,800.00%.

Insider Activity at Plymouth Industrial REIT

In other news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the transaction, the insider now directly owns 4,474,292 shares of the company’s stock, valued at approximately $105,503,805.36. This trade represents a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of large investors have recently added to or reduced their stakes in PLYM. Point72 Hong Kong Ltd acquired a new position in Plymouth Industrial REIT in the 3rd quarter valued at $123,000. Plotkin Financial Advisors LLC acquired a new stake in shares of Plymouth Industrial REIT during the 3rd quarter worth $233,000. Verition Fund Management LLC bought a new position in shares of Plymouth Industrial REIT in the third quarter worth $254,000. Captrust Financial Advisors acquired a new position in Plymouth Industrial REIT in the third quarter valued at about $248,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Plymouth Industrial REIT by 137.0% during the third 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 purchasing an additional 38,850 shares during the period. Institutional investors and hedge funds 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.