Plymouth Industrial REIT (NYSE:PLYM) Stock Rating Lowered by Robert W. Baird

Plymouth Industrial REIT (NYSE:PLYM) was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat reports. They currently have a $24.00 price objective on the stock, up from their prior price objective of $19.00. Robert W. Baird’s price target suggests a potential upside of 8.84% from the company’s previous close.

Several other analysts have also weighed in on PLYM. Wall Street Zen upgraded Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings restated a “hold (c)” rating on shares of Plymouth Industrial REIT in a report on Wednesday, October 8th. BMO Capital Markets upped their price objective on Plymouth Industrial REIT from $17.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, August 21st. JMP Securities restated a “market perform” rating on shares of Plymouth Industrial REIT in a report on Wednesday, August 20th. Finally, Truist Financial upped their target price on Plymouth Industrial REIT from $18.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.89.

Plymouth Industrial REIT Stock Performance

NYSE:PLYM opened at $22.05 on Thursday. Plymouth Industrial REIT has a 1 year low of $12.70 and a 1 year high of $22.65. The stock has a market cap of $982.33 million, a price-to-earnings ratio of 7.66 and a beta of 1.16. The business has a fifty day moving average of $21.72 and a 200-day moving average of $17.67. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.13 and a current ratio of 0.13.

Plymouth Industrial REIT (NYSE:PLYM) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $46.20 million. Equities analysts predict that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC increased 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 valued at $26,000 after acquiring an additional 919 shares during the last quarter. GAMMA Investing LLC boosted its stake in Plymouth Industrial REIT by 233.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,605 shares of the company’s stock valued at $36,000 after purchasing an additional 1,123 shares during the period. CWM LLC boosted its stake in Plymouth Industrial REIT by 40.5% during the 3rd quarter. CWM LLC now owns 2,210 shares of the company’s stock valued at $49,000 after purchasing an additional 637 shares during the period. Copeland Capital Management LLC boosted its stake in Plymouth Industrial REIT by 79.9% during the 1st 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. Finally, New York State Teachers Retirement System bought a new stake in Plymouth Industrial REIT during the 1st quarter valued at approximately $60,000. Institutional investors and hedge funds 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.