Truist Financial Cuts Plymouth Industrial REIT (NYSE:PLYM) Price Target to $18.00

Plymouth Industrial REIT (NYSE:PLYM) had its price target trimmed by Truist Financial from $20.00 to $18.00 in a report released on Monday,Benzinga reports. The brokerage currently has a hold rating on the stock.

PLYM has been the subject of several other research reports. Wedbush set a $17.00 price objective on shares of Plymouth Industrial REIT in a research report on Friday, February 28th. JMP Securities restated a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. JPMorgan Chase & Co. cut their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Finally, Robert W. Baird cut their price target on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Plymouth Industrial REIT has an average rating of “Hold” and a consensus price target of $22.00.

Plymouth Industrial REIT Price Performance

Shares of PLYM opened at $16.97 on Monday. The business has a 50-day moving average of $16.83 and a 200-day moving average of $18.87. 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 has a 1 year low of $16.06 and a 1 year high of $24.71. The company has a market capitalization of $773.14 million, a price-to-earnings ratio of 848.65 and a beta of 1.45.

Plymouth Industrial REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date of this dividend is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 31.37%.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of institutional investors and hedge funds have recently made changes to their positions in PLYM. Pinebridge Investments L.P. raised its position in shares of Plymouth Industrial REIT by 4.3% during the 4th quarter. Pinebridge Investments L.P. now owns 18,688 shares of the company’s stock valued at $333,000 after buying an additional 773 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Plymouth Industrial REIT by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company’s stock valued at $406,000 after buying an additional 817 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Plymouth Industrial REIT by 38.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock valued at $54,000 after purchasing an additional 844 shares during the period. Quarry LP grew its stake in Plymouth Industrial REIT by 88.4% in the third quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after purchasing an additional 860 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Plymouth Industrial REIT by 1.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock worth $1,064,000 after purchasing an additional 900 shares in the last quarter. Hedge funds and other institutional investors 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.