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

Plymouth Industrial REIT (NYSE:PLYM) had its price target trimmed by Truist Financial from $20.00 to $18.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird cut their price target on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price 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. Wedbush set a $17.00 price target on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. Finally, JMP Securities restated a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $22.00.

Plymouth Industrial REIT Price Performance

Shares of NYSE PLYM opened at $17.09 on Monday. Plymouth Industrial REIT has a twelve month low of $16.06 and a twelve month high of $24.71. The company has a market cap of $778.47 million, a PE ratio of 854.50 and a beta of 1.45. The business’s 50 day moving average price is $16.84 and its two-hundred day moving average price is $18.93. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42.

Plymouth Industrial REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.62%. The ex-dividend date is Monday, March 31st. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 31.37%.

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its position in Plymouth Industrial REIT by 4.7% during the third quarter. Victory Capital Management Inc. now owns 57,700 shares of the company’s stock worth $1,304,000 after purchasing an additional 2,600 shares during the period. Intech Investment Management LLC bought a new position in Plymouth Industrial REIT in the third quarter valued at approximately $205,000. Charles Schwab Investment Management Inc. increased its stake in Plymouth Industrial REIT by 24.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock valued at $20,583,000 after acquiring an additional 180,003 shares during the last quarter. Cerity Partners LLC lifted its stake in Plymouth Industrial REIT by 28.0% during the third quarter. Cerity Partners LLC now owns 34,316 shares of the company’s stock worth $776,000 after purchasing an additional 7,512 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Plymouth Industrial REIT by 11.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,834 shares of the company’s stock valued at $290,000 after purchasing an additional 1,317 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

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.