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

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

PLYM has been the topic of a number of research reports. 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. 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 research report on Monday, October 27th. Robert W. Baird cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $19.00 to $24.00 in a report on Thursday, October 23rd. Industrial Alliance Securities set a $22.00 price target on Plymouth Industrial REIT in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Plymouth Industrial REIT in a report on Wednesday, October 8th.

Plymouth Industrial REIT Trading Down 0.1%

Shares of Plymouth Industrial REIT stock opened at $21.89 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.13 and a quick ratio of 0.13. The business has a fifty day simple moving average of $22.02 and a two-hundred day simple moving average of $19.76. Plymouth Industrial REIT has a 1 year low of $12.70 and a 1 year high of $22.74. The company has a market capitalization of $974.98 million, a price-to-earnings ratio of 10.94 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) EPS for the quarter, missing the consensus estimate of $0.47 by ($1.70). The company had revenue of $51.16 million during 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%. Research analysts forecast that Plymouth Industrial REIT will post 1.83 EPS for the current year.

Insider Activity

In related news, EVP James Connolly sold 59,376 shares of the firm’s stock in a transaction dated 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 directly owned 120,236 shares of the company’s stock, valued at approximately $2,628,358.96. This trade represents a 33.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey E. Witherell sold 151,583 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $9,567,728.52. This represents a 25.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Plymouth Industrial REIT

Large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its holdings in Plymouth Industrial REIT by 136.1% in the 2nd quarter. Parallel Advisors LLC now owns 1,594 shares of the company’s stock valued at $26,000 after acquiring an additional 919 shares in the last quarter. GAMMA Investing LLC increased its position in shares of 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 purchasing an additional 1,123 shares during the period. CWM LLC raised its stake in 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 purchasing an additional 637 shares in the last quarter. Covestor Ltd lifted its position in 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 purchasing an additional 2,378 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Plymouth Industrial REIT by 65.3% during the second quarter. BNP Paribas Financial Markets now owns 3,834 shares of the company’s stock worth $62,000 after buying an additional 1,514 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.