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

Shares of Plymouth Industrial REIT (NYSE:PLYM) have been given a consensus rating of “Hold” by the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $21.00.

A number of analysts recently issued reports on PLYM shares. BMO Capital Markets lowered their target price on 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 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. Baird R W lowered Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Industrial Alliance Securities set a $22.00 price objective on Plymouth Industrial REIT in a research note on Monday, October 27th. Finally, Robert W. Baird cut shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and raised their target price for the company from $19.00 to $24.00 in a research note on Thursday, October 23rd.

Insiders Place Their Bets

In other news, EVP James Connolly sold 59,376 shares of Plymouth Industrial REIT stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $21.86, for a total value of $1,297,959.36. Following the completion of the transaction, the executive vice president owned 120,236 shares of the company’s stock, valued at $2,628,358.96. This trade represents a 33.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey E. Witherell sold 151,583 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 437,682 shares in the company, valued at $9,567,728.52. This represents a 25.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Plymouth Industrial REIT

Institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC raised its stake 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 during the period. GAMMA Investing LLC increased its holdings 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 valued at $36,000 after purchasing an additional 1,123 shares during the last quarter. CWM LLC increased its holdings in shares of 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 during the last quarter. Covestor Ltd raised its position in shares of Plymouth Industrial REIT by 1,965.3% in the third quarter. Covestor Ltd now owns 2,499 shares of the company’s stock valued at $55,000 after purchasing an additional 2,378 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of Plymouth Industrial REIT by 65.3% during the 2nd 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 during the last quarter. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Price Performance

Shares of PLYM opened at $21.92 on Wednesday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.31. Plymouth Industrial REIT has a twelve month low of $12.70 and a twelve month high of $22.74. The stock has a market capitalization of $976.31 million, a P/E ratio of 10.96 and a beta of 1.24. The company has a 50 day moving average of $21.97 and a 200-day moving average of $20.46.

Plymouth Industrial REIT (NYSE:PLYM) last announced its earnings results on Monday, November 10th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $49.62 million. As a group, equities research analysts forecast that Plymouth Industrial REIT will post 1.83 EPS 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.