Plymouth Industrial REIT (NYSE:PLYM) Rating Lowered to Hold at Truist Financial

Plymouth Industrial REIT (NYSE:PLYMGet Free Report) was downgraded by investment analysts at Truist Financial from a “buy” rating to a “hold” rating in a research note issued on Friday, MarketBeat reports.

Several other equities research analysts also recently weighed in on PLYM. Robert W. Baird reduced their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Barclays reduced their price objective on shares of 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. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price objective on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. JPMorgan Chase & Co. reduced their price objective on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Finally, BNP Paribas cut shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $23.89.

Read Our Latest Report on Plymouth Industrial REIT

Plymouth Industrial REIT Stock Performance

Shares of PLYM opened at $16.65 on Friday. The company has a market cap of $755.74 million, a price-to-earnings ratio of 832.50, a price-to-earnings-growth ratio of 1.20 and a beta of 1.34. The firm has a fifty day moving average of $18.21 and a 200-day moving average of $21.08. Plymouth Industrial REIT has a 1 year low of $16.37 and a 1 year high of $24.71. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12.

Insiders Place Their Bets

In other Plymouth Industrial REIT news, Director Pendleton P. Jr. White bought 5,000 shares of the stock in a transaction on Friday, November 15th. The shares were bought 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. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey E. Witherell bought 2,000 shares of the stock in a transaction on Friday, November 15th. The shares were acquired at an average cost 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 in the company, valued at approximately $4,664,065.52. This represents a 0.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Plymouth Industrial REIT

Large investors have recently made changes to their positions in the company. Quarry LP boosted its position in Plymouth Industrial REIT by 88.4% during 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 period. Copeland Capital Management LLC bought a new stake in Plymouth Industrial REIT during the third quarter worth approximately $43,000. Loomis Sayles & Co. L P boosted its position in 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 worth $45,000 after purchasing an additional 1,941 shares during the period. Point72 DIFC Ltd bought a new stake in Plymouth Industrial REIT during the third quarter worth approximately $46,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Plymouth Industrial REIT during the third quarter worth approximately $123,000. Institutional investors own 92.67% of the company’s stock.

About Plymouth Industrial REIT

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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.

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Analyst Recommendations for Plymouth Industrial REIT (NYSE:PLYM)

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