Plymouth Industrial REIT (NYSE:PLYM) Given Average Rating of “Hold” by Analysts

Shares of Plymouth Industrial REIT (NYSE:PLYM) have earned a consensus rating of “Hold” from the ten analysts that are currently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $21.00.

A number of equities analysts recently weighed in on the stock. iA Financial set a $22.00 price target on shares of Plymouth Industrial REIT in a report on Monday, October 27th. Barclays dropped their target price on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, October 27th. Weiss Ratings restated a “hold (c)” rating on shares of Plymouth Industrial REIT in a research note on Thursday, January 22nd. Colliers Securities cut shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a report on Monday, October 27th. Finally, Robert W. Baird lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $19.00 to $24.00 in a report on Thursday, October 23rd.

Plymouth Industrial REIT Stock Performance

PLYM stock opened at $22.00 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.31. The firm has a market cap of $979.88 million, a PE ratio of 11.00 and a beta of 1.24. The business has a 50 day moving average of $21.92 and a 200-day moving average of $21.22. Plymouth Industrial REIT has a 12-month low of $12.70 and a 12-month high of $22.74.

Insider Buying and Selling at Plymouth Industrial REIT

In related news, EVP James Connolly sold 59,376 shares of Plymouth Industrial REIT stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $21.86, for a total value of $1,297,959.36. Following the completion of the sale, the executive vice president owned 120,236 shares of the company’s stock, valued at approximately $2,628,358.96. This trade represents a 33.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey E. Witherell sold 151,583 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $21.86, for a total value of $3,313,604.38. Following the completion of the sale, the chief executive officer owned 437,682 shares in the company, valued at $9,567,728.52. This represents a 25.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new position in Plymouth Industrial REIT in the 4th quarter valued at approximately $28,000. GAMMA Investing LLC grew its position in shares of Plymouth Industrial REIT by 233.0% in the third 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 in the last quarter. CWM LLC raised its stake in shares of 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. Covestor Ltd lifted its holdings in Plymouth Industrial REIT by 1,965.3% during the 3rd quarter. Covestor Ltd now owns 2,499 shares of the company’s stock worth $55,000 after purchasing an additional 2,378 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Plymouth Industrial REIT by 65.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,834 shares of the company’s stock worth $62,000 after purchasing an additional 1,514 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

About Plymouth Industrial REIT

Plymouth Industrial REIT, Inc (NYSE: PLYM) is a real estate investment trust specializing in the acquisition, ownership and management of industrial properties across the United States. The company targets bulk distribution warehouses, last-mile fulfillment centers and light manufacturing facilities that serve leading logistics, e-commerce and manufacturing tenants. Plymouth Industrial REIT focuses on assets located in established industrial markets with strong demand drivers, including proximity to major transportation corridors, ports and population centers.

The firm’s portfolio strategy emphasizes geographic diversification and properties with high barriers to entry.