Plymouth Industrial REIT (NYSE:PLYM) Earns Market Outperform Rating from JMP Securities

Plymouth Industrial REIT (NYSE:PLYM)‘s stock had its “market outperform” rating reissued by investment analysts at JMP Securities in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $27.00 price target on the stock. JMP Securities’ price objective would indicate a potential upside of 60.24% from the company’s current price.

A number of other research analysts also recently commented on the stock. Barclays lowered 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 report on Monday, November 18th. Robert W. Baird decreased 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 research note on Tuesday, November 12th. BNP Paribas downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research note on Friday, November 8th. Finally, Truist Financial decreased their price objective on shares of Plymouth Industrial REIT from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, November 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.33.

Plymouth Industrial REIT Trading Up 0.7 %

Shares of NYSE:PLYM traded up $0.12 during trading on Tuesday, reaching $16.85. The company’s stock had a trading volume of 4,229 shares, compared to its average volume of 204,129. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. Plymouth Industrial REIT has a 12 month low of $16.37 and a 12 month high of $24.71. The firm’s 50 day simple moving average is $18.51 and its two-hundred day simple moving average is $21.20. The stock has a market capitalization of $764.80 million, a PE ratio of 842.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.34.

Insider Activity

In related news, Director Pendleton P. Jr. White purchased 5,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $18.39 per share, with a total value of $91,950.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at approximately $91,950. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey E. Witherell purchased 2,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $18.49 per share, with a total value of $36,980.00. Following the purchase, the chief executive officer now directly owns 252,248 shares of the company’s stock, 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. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several institutional investors have recently bought and sold shares of PLYM. Millennium Management LLC increased its holdings in Plymouth Industrial REIT by 115.6% during the second quarter. Millennium Management LLC now owns 338,894 shares of the company’s stock valued at $7,246,000 after buying an additional 181,725 shares during the period. Charles Schwab Investment Management Inc. increased its holdings 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 valued at $20,583,000 after buying an additional 180,003 shares during the period. Jennison Associates LLC increased its holdings in Plymouth Industrial REIT by 4.1% during the third quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock valued at $99,471,000 after buying an additional 174,836 shares during the period. Foundry Partners LLC purchased a new position in Plymouth Industrial REIT during the third quarter valued at approximately $3,725,000. Finally, Meros Investment Management LP increased its holdings in Plymouth Industrial REIT by 38.2% during the second quarter. Meros Investment Management LP now owns 402,923 shares of the company’s stock valued at $8,614,000 after buying an additional 111,339 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

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.