Plymouth Industrial REIT (NYSE:PLYM) Cut to Hold at Baird R W

Baird R W downgraded shares of Plymouth Industrial REIT (NYSE:PLYM) from a strong-buy rating to a hold rating in a report issued on Thursday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Wedbush upgraded Plymouth Industrial REIT to a “hold” rating in a research note on Wednesday, July 2nd. Truist Financial raised their price target on shares of Plymouth Industrial REIT from $18.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, August 20th. Robert W. Baird cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $19.00 to $24.00 in a research report on Thursday. Wall Street Zen upgraded Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, BMO Capital Markets lifted their target price 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. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $21.89.

Plymouth Industrial REIT Price Performance

Shares of PLYM stock opened at $22.05 on Thursday. Plymouth Industrial REIT has a one year low of $12.70 and a one year high of $22.65. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.13 and a quick ratio of 0.13. The company’s 50-day simple moving average is $21.72 and its two-hundred day simple moving average is $17.69. The company has a market capitalization of $982.33 million, a P/E ratio of 7.66 and a beta of 1.16.

Plymouth Industrial REIT (NYSE:PLYM) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.46 earnings per share for the quarter, beating 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 firm had revenue of $47.20 million during the quarter, compared to the consensus estimate of $46.20 million. As a group, equities analysts anticipate that Plymouth Industrial REIT will post 1.83 EPS for the current year.

Plymouth Industrial REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 33.33%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Parallel Advisors LLC grew its stake 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 period. GAMMA Investing LLC lifted its stake in shares of Plymouth Industrial REIT by 233.0% in 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 grew its position in Plymouth Industrial REIT by 40.5% during the third quarter. CWM LLC now owns 2,210 shares of the company’s stock valued at $49,000 after buying an additional 637 shares during the period. Copeland Capital Management LLC grew its position in Plymouth Industrial REIT by 79.9% during the first quarter. Copeland Capital Management LLC now owns 3,509 shares of the company’s stock valued at $57,000 after buying an additional 1,558 shares during the period. Finally, New York State Teachers Retirement System purchased a new position in Plymouth Industrial REIT in the first quarter valued at $60,000. 92.67% of the stock is 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.