Robert W. Baird Cuts Plymouth Industrial REIT (NYSE:PLYM) Price Target to $19.00

Plymouth Industrial REIT (NYSE:PLYM) had its price target dropped by research analysts at Robert W. Baird from $20.00 to $19.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 21.02% from the stock’s previous close.

A number of other brokerages also recently issued reports on PLYM. JMP Securities restated a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. Truist Financial dropped their price target on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Monday, March 24th. Barclays decreased their price objective on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating for the company in a research report on Monday, March 31st. JPMorgan Chase & Co. dropped their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Finally, KeyCorp decreased their price target on Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Plymouth Industrial REIT has an average rating of “Hold” and a consensus target price of $21.10.

Plymouth Industrial REIT Stock Up 1.0 %

NYSE:PLYM opened at $15.70 on Thursday. Plymouth Industrial REIT has a one year low of $12.70 and a one year high of $24.71. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market cap of $715.10 million, a PE ratio of 785.00 and a beta of 1.11. The firm’s 50 day simple moving average is $15.59 and its 200 day simple moving average is $17.20.

Plymouth Industrial REIT (NYSE:PLYM) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $45.57 million during the quarter, compared to the consensus estimate of $47.69 million. Plymouth Industrial REIT had a return on equity of 0.20% and a net margin of 0.46%. On average, research analysts anticipate that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Institutional Investors Weigh In On Plymouth Industrial REIT

Hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its holdings in shares of Plymouth Industrial REIT by 38.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock worth $54,000 after purchasing an additional 844 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Plymouth Industrial REIT by 6,862.5% during the first quarter. GAMMA Investing LLC now owns 3,342 shares of the company’s stock valued at $54,000 after buying an additional 3,294 shares during the last quarter. Quarry LP increased its position in shares of Plymouth Industrial REIT by 74.1% during the fourth quarter. Quarry LP now owns 3,191 shares of the company’s stock worth $57,000 after acquiring an additional 1,358 shares in the last quarter. Copeland Capital Management LLC raised its holdings in shares of Plymouth Industrial REIT by 79.9% in the 1st quarter. Copeland Capital Management LLC now owns 3,509 shares of the company’s stock worth $57,000 after acquiring an additional 1,558 shares during the last quarter. Finally, New York State Teachers Retirement System bought a new position in Plymouth Industrial REIT in the 1st quarter valued at about $60,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.