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

Plymouth Industrial REIT (NYSE:PLYM) has earned a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $21.00.

Several research analysts have recently commented on PLYM shares. Colliers Securities lowered 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 research note on Monday, October 27th. BMO Capital Markets lowered their target price 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. iA Financial set a $22.00 target price on Plymouth Industrial REIT in a report on Monday, October 27th. Barclays decreased their price target on Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, October 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Plymouth Industrial REIT in a research note on Thursday, January 22nd.

Plymouth Industrial REIT Stock Up 0.1%

Shares of Plymouth Industrial REIT stock opened at $22.00 on Friday. The firm has a market cap of $979.88 million, a price-to-earnings ratio of 11.00 and a beta of 1.24. The stock has a 50-day simple moving average of $21.92 and a 200-day simple moving average of $20.99. 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 current ratio of 0.13 and a quick 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 for the quarter, compared to the consensus estimate 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.

Insider Buying and Selling

In other 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 value of $3,313,604.38. Following the transaction, the chief executive officer owned 437,682 shares of the company’s stock, valued at $9,567,728.52. This trade represents a 25.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James Connolly sold 59,376 shares of the business’s stock in a transaction 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 sale, 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 SEC filing for this sale provides additional information. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Plymouth Industrial REIT

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC grew its holdings 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 worth $49,000 after purchasing an additional 637 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Plymouth Industrial REIT by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,804 shares of the company’s stock worth $388,000 after purchasing an additional 982 shares during the period. GeoWealth Management LLC boosted its stake in Plymouth Industrial REIT by 9.1% during the third quarter. GeoWealth Management LLC now owns 12,202 shares of the company’s stock worth $272,000 after buying an additional 1,013 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Plymouth Industrial REIT by 1.8% in the 2nd quarter. D.A. Davidson & CO. now owns 59,937 shares of the company’s stock valued at $963,000 after buying an additional 1,032 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Plymouth Industrial REIT by 21.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,063 shares of the company’s stock valued at $135,000 after buying an additional 1,081 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

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.