Plymouth Industrial REIT (NYSE:PLYM) Receives Average Recommendation of “Hold” from Analysts

Plymouth Industrial REIT (NYSE:PLYM) has received a consensus rating of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat reports. Ten investment 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 brokers that have issued a report on the stock in the last year is $21.00.

Several research firms have weighed in on PLYM. 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 research report on Monday, October 27th. Barclays decreased their target price on Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, October 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Plymouth Industrial REIT in a report on Wednesday, October 8th. Industrial Alliance Securities set a $22.00 price objective on Plymouth Industrial REIT in a research note on Monday, October 27th. Finally, Colliers Securities cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research report on Monday, October 27th.

Insider Activity at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, EVP James Connolly sold 59,376 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 $1,297,959.36. Following the transaction, the executive vice president owned 120,236 shares of the company’s stock, valued at $2,628,358.96. The trade was a 33.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey E. Witherell sold 151,583 shares of the company’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 $3,313,604.38. Following the completion of the transaction, the chief executive officer owned 437,682 shares of the company’s stock, valued at approximately $9,567,728.52. The trade was a 25.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of institutional investors have recently bought and sold shares of the business. Hudson Bay Capital Management LP purchased a new stake in Plymouth Industrial REIT during the third quarter valued at $56,398,000. Balyasny Asset Management L.P. purchased a new stake in shares of Plymouth Industrial REIT during the 3rd quarter valued at about $12,555,000. DigitalBridge Group Inc. purchased a new stake in shares of Plymouth Industrial REIT during the 3rd quarter valued at about $7,476,000. Verition Fund Management LLC lifted its holdings in shares of Plymouth Industrial REIT by 476.4% in the 3rd quarter. Verition Fund Management LLC now owns 338,880 shares of the company’s stock valued at $7,567,000 after acquiring an additional 280,089 shares during the last quarter. Finally, Alberta Investment Management Corp purchased a new position in Plymouth Industrial REIT in the third quarter worth about $6,172,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Trading Up 0.0%

Shares of NYSE:PLYM opened at $21.95 on Wednesday. The stock’s 50-day simple moving average is $21.99 and its two-hundred day simple moving average is $20.26. The stock has a market capitalization of $977.65 million, a price-to-earnings ratio of 10.97 and a beta of 1.24. Plymouth Industrial REIT has a 52-week low of $12.70 and a 52-week high of $22.74. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.13 and a current ratio of 0.13.

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

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.