Plymouth Industrial REIT’s (PLYM) Market Outperform Rating Reaffirmed at JMP Securities

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

Other equities research analysts have also issued reports about the company. Barclays dropped their price target 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. BNP Paribas cut shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price on the stock. in a report on Friday, November 8th. Truist Financial reduced their price target on shares of 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. Finally, Robert W. Baird lowered 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. One 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. According to MarketBeat.com, Plymouth Industrial REIT currently has an average rating of “Hold” and a consensus target price of $23.89.

Plymouth Industrial REIT Stock Up 2.6 %

Shares of Plymouth Industrial REIT stock opened at $17.17 on Tuesday. The business has a 50-day moving average price of $18.45 and a 200 day moving average price of $21.17. Plymouth Industrial REIT has a fifty-two week low of $16.37 and a fifty-two week high of $24.71. The firm has a market cap of $779.33 million, a P/E ratio of 858.50, a P/E/G ratio of 1.47 and a beta of 1.34. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42.

Plymouth Industrial REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date is Tuesday, December 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 4,800.00%.

Insider Activity

In other news, CEO Jeffrey E. Witherell bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of $18.49 per share, with a total value of $36,980.00. Following the completion of the acquisition, the chief executive officer now directly owns 252,248 shares in the company, valued at approximately $4,664,065.52. This trade represents a 0.80 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 price of $18.39 per share, with a total value of $91,950.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $91,950. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PLYM. Quarry LP boosted its position in shares of Plymouth Industrial REIT by 88.4% during the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after purchasing an additional 860 shares in the last quarter. Copeland Capital Management LLC acquired a new stake in Plymouth Industrial REIT during the third quarter valued at approximately $43,000. Loomis Sayles & Co. L P boosted 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 buying an additional 1,941 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Plymouth Industrial REIT in the third quarter worth approximately $46,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Plymouth Industrial REIT in the third quarter valued at $123,000. 92.67% of the stock is 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.