Plymouth Industrial REIT (NYSE:PLYM) Receives $21.40 Consensus Price Target from Analysts

Shares of Plymouth Industrial REIT (NYSE:PLYM) have earned a consensus rating of “Hold” from the twelve analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $21.40.

Several brokerages recently commented on PLYM. Colliers Securities cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a research note on Monday, October 27th. Robert W. Baird cut shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $19.00 to $24.00 in a research note on Thursday, October 23rd. Barclays decreased their target price on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, October 27th. BMO Capital Markets cut their price target on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating on the stock in a report on Monday, October 27th. Finally, Baird R W lowered shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd.

Plymouth Industrial REIT Trading Down 0.1%

NYSE PLYM opened at $21.87 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.31. Plymouth Industrial REIT has a 1-year low of $12.70 and a 1-year high of $22.74. The firm’s fifty day simple moving average is $22.02 and its 200-day simple moving average is $19.65. The company has a market capitalization of $974.09 million, a PE ratio of 10.93 and a beta of 1.26.

Plymouth Industrial REIT (NYSE:PLYM) last released its quarterly earnings data on Monday, November 10th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($1.70). Plymouth Industrial REIT had a net margin of 47.78% and a return on equity of 16.76%. The firm had revenue of $51.16 million for the quarter, compared to analyst estimates of $49.62 million. As a group, sell-side analysts anticipate that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Insider Transactions at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, CEO Jeffrey E. Witherell sold 151,583 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was 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 of the company’s stock, valued at $9,567,728.52. The trade was a 25.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Connolly sold 59,376 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $21.86, for a total value of $1,297,959.36. Following the transaction, the executive vice president directly owned 120,236 shares in the company, valued at approximately $2,628,358.96. This represents a 33.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several large investors have recently made changes to their positions in PLYM. Parallel Advisors LLC boosted its stake in 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 purchasing an additional 919 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Plymouth Industrial REIT by 233.0% during the third quarter. GAMMA Investing LLC now owns 1,605 shares of the company’s stock worth $36,000 after buying an additional 1,123 shares during the last quarter. CWM LLC boosted its position in shares of Plymouth Industrial REIT by 40.5% in the third quarter. CWM LLC now owns 2,210 shares of the company’s stock valued at $49,000 after acquiring an additional 637 shares during the period. Covestor Ltd grew its stake in shares of Plymouth Industrial REIT by 1,965.3% in the third quarter. Covestor Ltd now owns 2,499 shares of the company’s stock worth $55,000 after acquiring an additional 2,378 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Plymouth Industrial REIT by 65.3% in 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 last quarter. 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 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.