Plymouth Industrial REIT (NYSE:PLYM – Free Report) had its price target lowered by JPMorgan Chase & Co. from $20.00 to $19.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the stock.
Several other analysts also recently commented on PLYM. Truist Financial dropped their price objective on Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Robert W. Baird dropped their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Tuesday. Barclays lowered their target price 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 cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price for the company. in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Plymouth Industrial REIT has an average rating of “Hold” and a consensus price target of $23.89.
Check Out Our Latest Stock Analysis on PLYM
Plymouth Industrial REIT Stock Performance
Plymouth Industrial REIT Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.59%. The ex-dividend date is Tuesday, December 31st. Plymouth Industrial REIT’s payout ratio is 4,800.00%.
Insider Activity
In other news, Director Pendleton P. Jr. White bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $18.39 per share, for a total transaction of $91,950.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at approximately $91,950. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jeffrey E. Witherell bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $18.49 per share, with a total value of $36,980.00. Following the completion of the purchase, the chief executive officer now directly owns 252,248 shares in the company, valued at $4,664,065.52. The trade was a 0.80 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Plymouth Industrial REIT
Hedge funds have recently bought and sold shares of the stock. Thrivent Financial for Lutherans lifted its position in Plymouth Industrial REIT by 6.4% during the third quarter. Thrivent Financial for Lutherans now owns 455,092 shares of the company’s stock worth $10,285,000 after acquiring an additional 27,463 shares during the last quarter. Barclays PLC raised its holdings in 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 in the last quarter. Foundry Partners LLC bought a new stake in shares of Plymouth Industrial REIT during the 3rd quarter valued at $3,725,000. Geode Capital Management LLC lifted its position 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 during the period. 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. 92.67% of the stock is currently owned by institutional investors and hedge funds.
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.
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