BMO Capital Markets Trims Plymouth Industrial REIT (NYSE:PLYM) Target Price to $25.00

Plymouth Industrial REIT (NYSE:PLYM) had its price target trimmed by BMO Capital Markets from $26.00 to $25.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has a market perform rating on the stock.

Several other equities research analysts have also weighed in on PLYM. JPMorgan Chase & Co. lowered their target price on shares of Plymouth Industrial REIT from $24.00 to $23.00 and set an underweight rating on the stock in a report on Wednesday, July 10th. B. Riley raised their price objective on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a buy rating in a report on Monday, August 5th. Truist Financial boosted their target price on Plymouth Industrial REIT from $24.00 to $26.00 and gave the stock a buy rating in a report on Tuesday, August 13th. Barclays lifted their price objective on Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an equal weight rating in a research report on Wednesday, August 14th. Finally, Wedbush increased their price objective on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a neutral rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $25.57.

Plymouth Industrial REIT Price Performance

Shares of PLYM stock opened at $23.94 on Wednesday. The stock’s fifty day simple moving average is $23.11 and its 200 day simple moving average is $21.91. Plymouth Industrial REIT has a one year low of $19.21 and a one year high of $25.55. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 55.67, a P/E/G ratio of 1.77 and a beta of 1.36. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.16 and a quick ratio of 0.16.

Plymouth Industrial REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.01%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 223.26%.

Insider Buying and Selling

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the sale, the insider now owns 4,474,292 shares of the company’s stock, valued at approximately $105,503,805.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Plymouth Industrial REIT

Several large investors have recently made changes to their positions in the stock. Meros Investment Management LP grew its holdings in shares of Plymouth Industrial REIT by 38.2% during the second quarter. Meros Investment Management LP now owns 402,923 shares of the company’s stock worth $8,614,000 after buying an additional 111,339 shares in the last quarter. Millennium Management LLC boosted its position in Plymouth Industrial REIT by 115.6% during the 2nd quarter. Millennium Management LLC now owns 338,894 shares of the company’s stock worth $7,246,000 after acquiring an additional 181,725 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Plymouth Industrial REIT by 431.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock worth $202,000 after acquiring an additional 7,668 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Plymouth Industrial REIT in the second quarter valued at approximately $978,000. Finally, Westwood Holdings Group Inc. raised its holdings in shares of Plymouth Industrial REIT by 1.0% in the second quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock valued at $63,372,000 after purchasing an additional 28,272 shares during the last quarter. 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.