Plymouth Industrial REIT (NYSE:PLYM) Price Target Cut to $20.00 by Analysts at Robert W. Baird

Plymouth Industrial REIT (NYSE:PLYM) had its target price reduced by Robert W. Baird from $21.00 to $20.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 15.44% from the company’s previous close.

A number of other brokerages have also recently weighed in on PLYM. BNP Paribas cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research report on Friday, November 8th. Truist Financial lowered shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. reduced their price objective on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. JMP Securities restated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Finally, Barclays cut their price target on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.33.

Plymouth Industrial REIT Stock Performance

NYSE:PLYM opened at $17.33 on Wednesday. Plymouth Industrial REIT has a 1 year low of $16.06 and a 1 year high of $24.71. The firm’s fifty day simple moving average is $16.94 and its 200 day simple moving average is $19.60. The firm has a market capitalization of $786.36 million, a PE ratio of 866.25 and a beta of 1.33. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PLYM. Westwood Holdings Group Inc. grew its stake in Plymouth Industrial REIT by 33.0% during the fourth quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company’s stock worth $64,634,000 after buying an additional 901,251 shares in the last quarter. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Plymouth Industrial REIT during the 4th quarter worth approximately $10,433,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Plymouth Industrial REIT during the 4th quarter worth approximately $9,612,000. Thompson Siegel & Walmsley LLC bought a new position in Plymouth Industrial REIT in the fourth quarter valued at approximately $7,443,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Plymouth Industrial REIT by 24.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock valued at $20,583,000 after acquiring an additional 180,003 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Plymouth Industrial REIT Company Profile

Plymouth Industrial REIT, Inc (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost effective space that is functional, flexible and safe.