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

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

Other equities research analysts have also recently issued reports about the company. JMP Securities reiterated a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Robert W. Baird lowered their price objective on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. cut 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. Finally, Wedbush set a $17.00 target price on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Plymouth Industrial REIT has a consensus rating of “Hold” and a consensus target price of $22.00.

Plymouth Industrial REIT Price Performance

Shares of PLYM stock opened at $16.97 on Monday. The firm has a market capitalization of $773.14 million, a P/E ratio of 848.65 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. 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 stock has a 50 day moving average price of $16.83 and a 200 day moving average price of $18.87.

Plymouth Industrial REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 5.66%. Plymouth Industrial REIT’s payout ratio is presently 31.37%.

Hedge Funds Weigh In On Plymouth Industrial REIT

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in shares of Plymouth Industrial REIT by 321.2% during 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 period. Geode Capital Management LLC increased its position in Plymouth Industrial REIT by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock worth $23,685,000 after purchasing an additional 29,924 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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. Captrust Financial Advisors acquired a new position in Plymouth Industrial REIT in the 3rd quarter valued at about $248,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Plymouth Industrial REIT by 24.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock valued at $20,583,000 after buying an additional 180,003 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.