Plymouth Industrial REIT (NYSE:PLYM) Receives $21.00 Consensus PT from Brokerages

Plymouth Industrial REIT (NYSE:PLYM) has been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold rating and one has given 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 brokerages have weighed in on PLYM. BMO Capital Markets decreased their price target on Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating for the company in a report on Monday, October 27th. Robert W. Baird cut shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and raised their price target for the company from $19.00 to $24.00 in a research report on Thursday, October 23rd. Colliers Securities lowered shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a research note on Monday, October 27th. Industrial Alliance Securities set a $22.00 price target on Plymouth Industrial REIT in a report on Monday, October 27th. Finally, Baird R W downgraded shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd.

Insider Buying and Selling at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, CEO Jeffrey E. Witherell sold 151,583 shares of Plymouth Industrial REIT stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $21.86, for a total transaction of $3,313,604.38. Following the completion of the sale, the chief executive officer directly owned 437,682 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. Also, EVP James Connolly sold 59,376 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $21.86, for a total transaction of $1,297,959.36. Following the completion of the transaction, the executive vice president directly owned 120,236 shares of the company’s stock, 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 company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in Plymouth Industrial REIT by 136.1% during the second 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 boosted its stake in Plymouth Industrial REIT by 233.0% in 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 in the last quarter. 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 acquiring an additional 637 shares during the last quarter. Covestor Ltd raised its stake in shares of Plymouth Industrial REIT by 1,965.3% during 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 in the last quarter. Finally, Pensionfund Sabic purchased a new position in shares of Plymouth Industrial REIT during the fourth quarter worth approximately $77,000. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Down 0.0%

NYSE PLYM opened at $21.86 on Wednesday. The company has a market cap of $973.86 million, a price-to-earnings ratio of 10.93 and a beta of 1.24. Plymouth Industrial REIT has a 1-year low of $12.70 and a 1-year high of $22.74. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.31. The company has a 50 day moving average of $21.98 and a 200-day moving average of $20.38.

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

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.