Plymouth Industrial REIT (NYSE:PLYM) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Plymouth Industrial REIT (NYSE:PLYM) from a hold rating to a sell rating in a report released on Saturday.

A number of other research analysts have also recently commented on the stock. Barclays dropped their target price on shares of Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating for the company in a report on Monday, March 31st. Truist Financial dropped their target price on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating for the company in a report on Monday, March 24th. KeyCorp dropped their target price on shares of Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Robert W. Baird dropped their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Finally, Wedbush set a $17.00 target price on shares of Plymouth Industrial REIT in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Plymouth Industrial REIT presently has an average rating of “Hold” and an average target price of $21.10.

Plymouth Industrial REIT Trading Down 1.0%

PLYM opened at $16.09 on Friday. Plymouth Industrial REIT has a twelve month low of $12.70 and a twelve month high of $24.71. The company has a 50-day simple moving average of $15.52 and a 200 day simple moving average of $16.53. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $732.64 million, a price-to-earnings ratio of 804.25 and a beta of 1.12.

Plymouth Industrial REIT (NYSE:PLYM) last posted its earnings results on Thursday, May 1st. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company 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%. Analysts predict that Plymouth Industrial REIT will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PLYM. Legal & General Group Plc raised its holdings in Plymouth Industrial REIT by 17.3% during the 4th quarter. Legal & General Group Plc now owns 41,472 shares of the company’s stock worth $738,000 after purchasing an additional 6,119 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Plymouth Industrial REIT by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company’s stock worth $406,000 after purchasing an additional 817 shares during the last quarter. Rhumbline Advisers raised its holdings in Plymouth Industrial REIT by 1.4% during the 4th quarter. Rhumbline Advisers now owns 73,529 shares of the company’s stock worth $1,309,000 after purchasing an additional 1,010 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Plymouth Industrial REIT by 4.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 57,243 shares of the company’s stock worth $1,015,000 after purchasing an additional 2,408 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Plymouth Industrial REIT by 2.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,353 shares of the company’s stock worth $736,000 after purchasing an additional 952 shares during 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.