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

Plymouth Industrial REIT (NYSE:PLYM) had its price objective lowered by Barclays from $22.00 to $18.00 in a research note released on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

PLYM has been the subject of a number of other reports. JMP Securities reissued a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Truist Financial cut their price target on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, March 24th. JPMorgan Chase & Co. lowered their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Robert W. Baird decreased their target price on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Finally, Wedbush set a $17.00 price target on Plymouth Industrial REIT in a research note on Friday, February 28th. One 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. According to data from MarketBeat.com, Plymouth Industrial REIT has a consensus rating of “Hold” and an average price target of $21.56.

Plymouth Industrial REIT Trading Up 0.4 %

NYSE:PLYM opened at $16.38 on Monday. Plymouth Industrial REIT has a one year low of $16.06 and a one year 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 firm has a market capitalization of $746.13 million, a price-to-earnings ratio of 819.00 and a beta of 1.45. The business has a fifty day moving average price of $16.80 and a 200-day moving average price of $18.65.

Plymouth Industrial REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.24 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.86%. Plymouth Industrial REIT’s dividend payout ratio is currently 31.37%.

Institutional Investors Weigh In On Plymouth Industrial REIT

Several large investors have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. raised its stake in shares of Plymouth Industrial REIT by 4.3% in the fourth quarter. Pinebridge Investments L.P. now owns 18,688 shares of the company’s stock valued at $333,000 after acquiring an additional 773 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Plymouth Industrial REIT by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company’s stock valued at $406,000 after purchasing an additional 817 shares during the last quarter. Quadrant Capital Group LLC raised its position in Plymouth Industrial REIT by 38.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock worth $54,000 after purchasing an additional 844 shares during the period. Quarry LP lifted 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 last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Plymouth Industrial REIT by 1.9% in the third 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 during the last quarter. 92.67% of the stock is owned by institutional investors.

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.