KeyCorp Cuts Plymouth Industrial REIT (NYSE:PLYM) Price Target to $18.00

Plymouth Industrial REIT (NYSE:PLYM) had its price objective lowered by equities research analysts at KeyCorp from $23.00 to $18.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 27.94% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Wedbush set a $17.00 price objective on shares of Plymouth Industrial REIT in a research note on Friday, February 28th. Robert W. Baird dropped their price target on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Truist Financial dropped their target price on Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Monday, March 24th. Finally, Barclays lowered their price objective on Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating for the company in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Plymouth Industrial REIT has a consensus rating of “Hold” and an average target price of $21.20.

Plymouth Industrial REIT Stock Performance

PLYM traded up $0.11 during trading hours on Tuesday, reaching $14.07. The company’s stock had a trading volume of 61,333 shares, compared to its average volume of 352,597. The firm has a market cap of $640.86 million, a PE ratio of 703.45 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. Plymouth Industrial REIT has a 52 week low of $13.66 and a 52 week high of $24.71. The company’s 50-day moving average is $16.67 and its 200-day moving average is $18.44.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several institutional investors have recently modified their holdings of PLYM. Westwood Holdings Group Inc. grew its holdings in shares of Plymouth Industrial REIT by 33.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company’s stock worth $64,634,000 after purchasing an additional 901,251 shares during the last quarter. State Street Corp boosted its stake in shares of Plymouth Industrial REIT by 1.4% during the 3rd quarter. State Street Corp now owns 1,223,747 shares of the company’s stock valued at $27,949,000 after purchasing an additional 16,398 shares in the last quarter. Geode Capital Management LLC raised its stake in Plymouth Industrial REIT by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock worth $23,685,000 after buying an additional 29,924 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Plymouth Industrial REIT by 1.7% during the 4th quarter. JPMorgan Chase & Co. now owns 906,149 shares of the company’s stock worth $16,129,000 after acquiring an additional 15,496 shares during the period. Finally, Mesirow Institutional Investment Management Inc. bought a new position in shares of Plymouth Industrial REIT in the 4th quarter worth approximately $10,433,000. 92.67% of the stock is currently owned by institutional investors.

About Plymouth Industrial REIT

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.