Plymouth Industrial REIT (NYSE:PLYM) Given New $19.00 Price Target at JPMorgan Chase & Co.

Plymouth Industrial REIT (NYSE:PLYM) had its price objective lowered by research analysts at JPMorgan Chase & Co. from $20.00 to $19.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 11.83% from the stock’s current price.

PLYM has been the topic of a number of other reports. Truist Financial decreased their price objective on 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. BNP Paribas cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective for the company. in a report on Friday, November 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Tuesday. Robert W. Baird dropped their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Barclays reduced their price objective on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $23.89.

Plymouth Industrial REIT Price Performance

Shares of PLYM stock traded up $0.26 during trading hours on Tuesday, reaching $16.99. 34,180 shares of the company were exchanged, compared to its average volume of 207,108. Plymouth Industrial REIT has a fifty-two week low of $16.37 and a fifty-two week high of $24.71. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. The stock’s fifty day moving average is $18.51 and its two-hundred day moving average is $21.20. The company has a market cap of $771.16 million, a price-to-earnings ratio of 849.50, a P/E/G ratio of 1.47 and a beta of 1.34.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Jennison Associates LLC lifted its stake in Plymouth Industrial REIT by 4.1% in the 3rd quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock valued at $99,471,000 after acquiring an additional 174,836 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Plymouth Industrial REIT by 1.0% in the second quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock valued at $63,372,000 after buying an additional 28,272 shares in the last quarter. State Street Corp increased its holdings in Plymouth Industrial REIT by 1.4% during the third quarter. State Street Corp now owns 1,223,747 shares of the company’s stock worth $27,949,000 after buying an additional 16,398 shares during the last quarter. Geode Capital Management LLC increased its holdings in Plymouth Industrial REIT by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock worth $23,685,000 after buying an additional 29,924 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Plymouth Industrial REIT by 24.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock worth $20,583,000 after acquiring an additional 180,003 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

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.