Plymouth Industrial REIT (NYSE:PLYM) Given New $22.00 Price Target at Truist Financial

Plymouth Industrial REIT (NYSE:PLYM) had its price target cut by analysts at Truist Financial from $27.00 to $22.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 17.40% from the company’s previous close.

A number of other research firms have also commented on PLYM. JMP Securities restated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. Barclays decreased their price target on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. BNP Paribas downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research report on Friday, November 8th. Wedbush increased their target price on Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Finally, B. Riley raised their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $24.33.

Plymouth Industrial REIT Stock Down 0.4 %

Shares of NYSE:PLYM opened at $18.74 on Friday. The company’s fifty day moving average is $20.69 and its 200-day moving average is $21.84. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. Plymouth Industrial REIT has a 52 week low of $18.08 and a 52 week high of $25.55. The company has a market capitalization of $850.61 million, a PE ratio of 937.00, a P/E/G ratio of 1.46 and a beta of 1.37.

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 stock was purchased at an average price of $18.39 per share, with a total value of $91,950.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $91,950. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey E. Witherell bought 2,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $18.49 per share, with a total value of $36,980.00. Following the transaction, the chief executive officer now directly owns 252,248 shares in the company, valued at approximately $4,664,065.52. The trade was a 0.80 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of institutional investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans boosted its holdings in Plymouth Industrial REIT by 6.4% during the third quarter. Thrivent Financial for Lutherans now owns 455,092 shares of the company’s stock worth $10,285,000 after buying an additional 27,463 shares during the last quarter. Foundry Partners LLC acquired a new stake in shares of Plymouth Industrial REIT in the 3rd quarter valued at approximately $3,725,000. Meros Investment Management LP boosted its stake in Plymouth Industrial REIT by 38.2% during the 2nd quarter. Meros Investment Management LP now owns 402,923 shares of the company’s stock worth $8,614,000 after acquiring an additional 111,339 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in Plymouth Industrial REIT by 1.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock worth $63,372,000 after acquiring an additional 28,272 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Plymouth Industrial REIT by 2.8% during the first quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock valued at $95,943,000 after purchasing an additional 115,318 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

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.