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

Plymouth Industrial REIT (NYSE:PLYM)‘s stock had its “market outperform” rating reissued by analysts at JMP Securities in a research note issued on Tuesday,Benzinga reports. They currently have a $27.00 price target on the stock. JMP Securities’ price objective suggests a potential upside of 60.24% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Barclays cut their price target 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. 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 report on Tuesday, November 12th. BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a report on Friday, November 8th. Finally, Truist Financial cut their target price 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.33.

Plymouth Industrial REIT Stock Performance

NYSE PLYM traded up $0.12 on Tuesday, hitting $16.85. 4,229 shares of the stock traded hands, compared to its average volume of 204,129. The business’s fifty day moving average is $18.51 and its two-hundred day moving average is $21.20. Plymouth Industrial REIT has a 12 month low of $16.37 and a 12 month high of $24.71. The firm has a market capitalization of $764.80 million, a price-to-earnings ratio of 842.50, a PEG ratio of 1.47 and a beta of 1.34. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12.

Insider Buying and Selling at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, CEO Jeffrey E. Witherell purchased 2,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $18.49 per share, for a total transaction of $36,980.00. Following the purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Pendleton P. Jr. White purchased 5,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $18.39 per share, with a total value of $91,950.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $91,950. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of institutional investors have recently bought and sold shares of the business. Quarry LP grew its position in shares of Plymouth Industrial REIT by 88.4% during the third 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 purchased a new position in shares of Plymouth Industrial REIT during the third quarter valued at about $43,000. Loomis Sayles & Co. L P grew its position in shares of 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 valued at $45,000 after purchasing an additional 1,941 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Plymouth Industrial REIT during the third quarter valued at about $46,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Plymouth Industrial REIT during the third quarter valued at about $123,000. 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.