Plymouth Industrial REIT (NYSE:PLYM) Stock Price Expected to Rise, Barclays Analyst Says

Plymouth Industrial REIT (NYSE:PLYM) had its price objective boosted by Barclays from $18.00 to $24.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 8.98% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on PLYM. Wall Street Zen upgraded Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Wedbush upgraded Plymouth Industrial REIT to a “hold” rating in a research report on Wednesday, July 2nd. Citizens Jmp downgraded Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. BMO Capital Markets increased their price target on Plymouth Industrial REIT from $17.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, August 21st. Finally, Truist Financial raised their price objective on Plymouth Industrial REIT from $18.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, August 20th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.33.

Plymouth Industrial REIT Stock Performance

NYSE PLYM opened at $22.02 on Monday. The firm has a market cap of $981.12 million, a price-to-earnings ratio of 7.65 and a beta of 1.17. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average price of $17.71 and a 200-day moving average price of $16.56. Plymouth Industrial REIT has a twelve month low of $12.70 and a twelve month high of $23.40.

Plymouth Industrial REIT (NYSE:PLYM) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Plymouth Industrial REIT had a return on equity of 24.24% and a net margin of 67.77%.The company had revenue of $47.20 million during the quarter, compared to analyst estimates of $46.20 million. As a group, equities research analysts predict that Plymouth Industrial REIT will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PLYM. Parallel Advisors LLC boosted its holdings in shares of Plymouth Industrial REIT by 136.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,594 shares of the company’s stock worth $26,000 after purchasing an additional 919 shares during the last quarter. GAMMA Investing LLC raised its position in Plymouth Industrial REIT by 6,862.5% in the first quarter. GAMMA Investing LLC now owns 3,342 shares of the company’s stock valued at $54,000 after purchasing an additional 3,294 shares during the period. Copeland Capital Management LLC raised its position in Plymouth Industrial REIT by 79.9% in the first quarter. Copeland Capital Management LLC now owns 3,509 shares of the company’s stock valued at $57,000 after purchasing an additional 1,558 shares during the period. New York State Teachers Retirement System purchased a new stake in shares of Plymouth Industrial REIT during the first quarter worth $60,000. Finally, BNP Paribas Financial Markets increased its position in shares of Plymouth Industrial REIT by 65.3% during the second quarter. BNP Paribas Financial Markets now owns 3,834 shares of the company’s stock worth $62,000 after acquiring an additional 1,514 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.