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

Shares of Plymouth Industrial REIT (NYSE:PLYM) have been assigned a consensus recommendation of “Hold” from the twelve research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $21.40.

Several research analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Plymouth Industrial REIT in a report on Wednesday, October 8th. Robert W. Baird cut shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $19.00 to $24.00 in a research note on Thursday, October 23rd. BMO Capital Markets decreased 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. Barclays dropped their price objective on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, October 27th. Finally, Colliers Securities cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research note on Monday, October 27th.

Plymouth Industrial REIT Price Performance

Shares of NYSE:PLYM opened at $21.86 on Friday. The firm has a fifty day moving average price of $22.01 and a two-hundred day moving average price of $19.56. The company has a market cap of $973.86 million, a price-to-earnings ratio of 10.93 and a beta of 1.26. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.13 and a quick ratio of 0.13. Plymouth Industrial REIT has a one year low of $12.70 and a one year high of $22.74.

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

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of large investors have recently modified their holdings of PLYM. Jennison Associates LLC grew its holdings in shares of Plymouth Industrial REIT by 3.0% in the second quarter. Jennison Associates LLC now owns 3,645,335 shares of the company’s stock worth $58,544,000 after purchasing an additional 104,526 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in Plymouth Industrial REIT during the 3rd quarter valued at $56,398,000. Geode Capital Management LLC grew its holdings in Plymouth Industrial REIT by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,079,383 shares of the company’s stock worth $17,335,000 after acquiring an additional 12,842 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Plymouth Industrial REIT by 1.9% in the second quarter. JPMorgan Chase & Co. now owns 900,430 shares of the company’s stock valued at $14,461,000 after acquiring an additional 16,947 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Plymouth Industrial REIT by 8.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 756,124 shares of the company’s stock valued at $12,143,000 after acquiring an additional 56,124 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other 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.