Robert W. Baird Cuts Plymouth Industrial REIT (NYSE:PLYM) Price Target to $25.00

Plymouth Industrial REIT (NYSE:PLYM) had its target price trimmed by Robert W. Baird from $26.00 to $25.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts also recently commented on the company. BMO Capital Markets reduced their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Wednesday, August 28th. Barclays raised their target price on shares of Plymouth Industrial REIT from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Wedbush lifted their price objective on Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. 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 report on Monday, August 5th. Finally, JMP Securities restated a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $25.22.

Plymouth Industrial REIT Price Performance

Shares of NYSE PLYM opened at $18.62 on Tuesday. Plymouth Industrial REIT has a twelve month low of $18.55 and a twelve month high of $25.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49. The stock has a market cap of $845.35 million, a P/E ratio of 931.00, a P/E/G ratio of 1.52 and a beta of 1.37. The stock has a 50 day moving average of $21.63 and a two-hundred day moving average of $21.98.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 5.16%. Plymouth Industrial REIT’s dividend payout ratio is 4,800.00%.

Insider Buying and Selling at Plymouth Industrial REIT

In other news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the transaction, the insider now owns 4,474,292 shares in the company, valued at $105,503,805.36. This represents a 11.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Plymouth Industrial REIT

Large investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new stake in Plymouth Industrial REIT in the 3rd quarter worth approximately $123,000. Plotkin Financial Advisors LLC bought a new position in shares of Plymouth Industrial REIT in the third quarter valued at approximately $233,000. Verition Fund Management LLC acquired a new stake in shares of Plymouth Industrial REIT in the third quarter worth $254,000. Captrust Financial Advisors bought a new stake in shares of Plymouth Industrial REIT during the 3rd quarter worth $248,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Plymouth Industrial REIT by 137.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,201 shares of the company’s stock worth $1,519,000 after buying an additional 38,850 shares during the period. 92.67% of the stock is currently owned by 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.