Plymouth Industrial REIT (NYSE:PLYM) Price Target Cut to $19.00 by Analysts at JPMorgan Chase & Co.

Plymouth Industrial REIT (NYSE:PLYM) had its price target dropped by research analysts at JPMorgan Chase & Co. from $20.00 to $19.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 11.83% from the company’s previous close.

Other equities analysts have also issued reports about the stock. JMP Securities reissued a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a research report on Tuesday. Robert W. Baird cut their price objective on shares of 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. Truist Financial decreased their target price on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. 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 report on Monday, November 18th. Finally, BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target for the company. in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $23.89.

Plymouth Industrial REIT Stock Performance

Shares of NYSE PLYM traded up $0.26 during midday trading on Tuesday, hitting $16.99. 34,180 shares of the company’s stock were exchanged, compared to its average volume of 207,108. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $771.16 million, a PE ratio of 849.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.34. Plymouth Industrial REIT has a 12 month low of $16.37 and a 12 month high of $24.71. The company’s 50 day moving average price is $18.51 and its 200 day moving average price is $21.20.

Insider Transactions at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White bought 5,000 shares of the business’s stock in a transaction 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 purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $91,950. This trade represents a ∞ increase in their ownership of the stock. The acquisition 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 Plymouth Industrial REIT stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the acquisition, the chief executive officer now owns 252,248 shares in the company, valued at approximately $4,664,065.52. This represents a 0.80 % increase in their position. 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 have recently modified their holdings of PLYM. Adams Asset Advisors LLC acquired a new position in Plymouth Industrial REIT during the 4th quarter worth approximately $1,068,000. JPMorgan Chase & Co. increased its holdings in shares of Plymouth Industrial REIT by 8.1% during the third quarter. JPMorgan Chase & Co. now owns 890,653 shares of the company’s stock worth $20,129,000 after buying an additional 66,886 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Plymouth Industrial REIT by 7.4% in the 3rd quarter. Tidal Investments LLC now owns 23,433 shares of the company’s stock valued at $530,000 after acquiring an additional 1,614 shares during the last quarter. Barclays PLC lifted its stake in shares of Plymouth Industrial REIT by 321.2% in the 3rd quarter. Barclays PLC now owns 63,101 shares of the company’s stock valued at $1,426,000 after acquiring an additional 48,119 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Plymouth Industrial REIT by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock valued at $23,685,000 after acquiring an additional 29,924 shares in the last quarter. 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.