Plymouth Industrial REIT (NYSE:PLYM) Receives Market Outperform Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Plymouth Industrial REIT (NYSE:PLYM) in a report published on Tuesday,Benzinga reports. The firm currently has a $27.00 price objective on the stock.

Other research analysts have also issued reports about the company. Barclays decreased their price objective on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Truist Financial decreased their price objective 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. Robert W. Baird decreased their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, BNP Paribas lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Plymouth Industrial REIT has an average rating of “Hold” and a consensus price target of $23.89.

Plymouth Industrial REIT Stock Up 1.1 %

NYSE PLYM opened at $17.21 on Tuesday. The firm has a market cap of $781.34 million, a PE ratio of 860.70, a price-to-earnings-growth ratio of 1.20 and a beta of 1.34. Plymouth Industrial REIT has a one year low of $16.37 and a one year high of $24.71. The stock’s 50 day simple moving average is $18.37 and its 200 day simple moving average is $21.14. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12.

Plymouth Industrial REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date is Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 4,800.00%.

Insider Activity

In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White bought 5,000 shares of Plymouth Industrial REIT stock in a transaction on Friday, November 15th. The shares were purchased at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at approximately $91,950. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at 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 shares were acquired at an average price of $18.49 per share, for a total transaction of $36,980.00. Following the completion of the acquisition, the chief executive officer now owns 252,248 shares of the company’s stock, 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 company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLYM. Quarry LP lifted its holdings in Plymouth Industrial REIT by 88.4% during the third quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after acquiring an additional 860 shares in the last quarter. Copeland Capital Management LLC bought a new position in Plymouth Industrial REIT during the third quarter worth about $43,000. Loomis Sayles & Co. L P lifted its holdings in Plymouth Industrial REIT by 3,130.6% during the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock worth $45,000 after acquiring an additional 1,941 shares in the last quarter. Point72 DIFC Ltd bought a new position in Plymouth Industrial REIT during the third quarter worth about $46,000. Finally, Point72 Hong Kong Ltd bought a new position in Plymouth Industrial REIT during the third quarter worth about $123,000. 92.67% of the stock is currently owned by institutional investors.

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.