Plymouth Industrial REIT (NYSE:PLYM) Now Covered by Barclays

Barclays began coverage on shares of Plymouth Industrial REIT (NYSE:PLYM) in a report issued on Wednesday, MarketBeat reports. The brokerage set an “equal weight” rating and a $22.00 price target on the stock. Barclays‘s price target would indicate a potential downside of 2.22% from the company’s current price.

A number of other brokerages have also recently commented on PLYM. JPMorgan Chase & Co. restated an “underweight” rating and set a $25.00 price objective (up previously from $23.00) on shares of Plymouth Industrial REIT in a research note on Monday, December 18th. Truist Financial reduced their price objective on Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Finally, JMP Securities upgraded Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.00.

Plymouth Industrial REIT Price Performance

PLYM stock opened at $22.50 on Wednesday. The stock has a 50-day moving average price of $22.03 and a two-hundred day moving average price of $22.02. The company has a market cap of $1.02 billion, a PE ratio of 118.42, a price-to-earnings-growth ratio of 1.64 and a beta of 1.36. Plymouth Industrial REIT has a 12-month low of $19.21 and a 12-month high of $25.55. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.47.

Insider Buying and Selling at Plymouth Industrial REIT

In other news, Director Pendleton P. White acquired 4,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $21.58 per share, for a total transaction of $86,320.00. Following the completion of the purchase, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $86,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Plymouth Industrial REIT by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 4,148,814 shares of the company’s stock valued at $99,862,000 after purchasing an additional 83,192 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Plymouth Industrial REIT by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 1,669,720 shares of the company’s stock valued at $40,190,000 after purchasing an additional 29,479 shares during the last quarter. American International Group Inc. grew its holdings in shares of Plymouth Industrial REIT by 2.4% during the fourth quarter. American International Group Inc. now owns 21,964 shares of the company’s stock valued at $529,000 after purchasing an additional 522 shares during the last quarter. Quarry LP grew its holdings in shares of Plymouth Industrial REIT by 69.9% during the fourth quarter. Quarry LP now owns 1,196 shares of the company’s stock valued at $29,000 after purchasing an additional 492 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Plymouth Industrial REIT by 15.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,116 shares of the company’s stock valued at $268,000 after purchasing an additional 1,528 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.