Plymouth Industrial REIT (NYSE:PLYM) Stock Rating Lowered by Truist Financial

Plymouth Industrial REIT (NYSE:PLYM) was downgraded by investment analysts at Truist Financial from a “buy” rating to a “hold” rating in a report released on Friday, Marketbeat.com reports.

Several other equities analysts have also weighed in on PLYM. BNP Paribas lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research note on Friday, November 8th. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Tuesday. Barclays decreased their price target on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Finally, Robert W. Baird reduced 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.89.

Plymouth Industrial REIT Trading Down 1.4 %

Shares of PLYM traded down $0.24 during trading hours on Friday, hitting $16.99. The stock had a trading volume of 103,321 shares, compared to its average volume of 223,509. Plymouth Industrial REIT has a 12-month low of $16.37 and a 12-month high of $24.71. The firm has a market cap of $771.18 million, a P/E ratio of 849.75, a P/E/G ratio of 1.20 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. The company’s fifty day simple moving average is $18.30 and its 200 day simple moving average is $21.11.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of large investors have recently bought and sold shares of PLYM. Quarry LP raised 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 worth $41,000 after purchasing an additional 860 shares during the period. Copeland Capital Management LLC acquired a new stake in Plymouth Industrial REIT in the third quarter worth $43,000. Loomis Sayles & Co. L P lifted its stake in Plymouth Industrial REIT by 3,130.6% in the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after buying an additional 1,941 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Plymouth Industrial REIT during the third quarter valued at $46,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Plymouth Industrial REIT during the third quarter worth about $123,000. 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.