Plymouth Industrial REIT (NYSE:PLYM) Receives Consensus Rating of “Hold” from Brokerages

Shares of Plymouth Industrial REIT (NYSE:PLYM) have received a consensus rating of “Hold” from the ten research firms that are covering the stock, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $21.00.

Several research analysts recently commented on PLYM shares. iA Financial set a $22.00 price target on Plymouth Industrial REIT in a research note on Monday, October 27th. Colliers Securities lowered Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research report on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Plymouth Industrial REIT in a research note on Thursday, January 22nd. BMO Capital Markets dropped their price target on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating for the company 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 upped their price target for the company from $19.00 to $24.00 in a report on Thursday, October 23rd.

Insider Activity at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, CEO Jeffrey E. Witherell sold 151,583 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $9,567,728.52. This trade represents a 25.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James Connolly sold 59,376 shares of the business’s 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 $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. This trade represents a 33.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Plymouth Industrial REIT

A number of institutional investors and hedge funds have recently modified their holdings of PLYM. Jennison Associates LLC raised its holdings in shares of Plymouth Industrial REIT by 3.0% during the second quarter. Jennison Associates LLC now owns 3,645,335 shares of the company’s stock worth $58,544,000 after purchasing an additional 104,526 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of Plymouth Industrial REIT during the 3rd quarter valued at about $56,398,000. Geode Capital Management LLC raised its stake in Plymouth Industrial REIT by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 1,242,942 shares of the company’s stock worth $27,199,000 after acquiring an additional 37,038 shares during the period. JPMorgan Chase & Co. lifted its holdings in Plymouth Industrial REIT by 1.9% in the second quarter. JPMorgan Chase & Co. now owns 900,430 shares of the company’s stock worth $14,461,000 after acquiring an additional 16,947 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in Plymouth Industrial REIT by 8.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 756,124 shares of the company’s stock valued at $12,143,000 after acquiring an additional 56,124 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Plymouth Industrial REIT Stock Up 0.1%

NYSE PLYM opened at $22.00 on Friday. 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 fifty-two week low of $12.70 and a fifty-two week high of $22.74. The business has a 50 day moving average price of $21.92 and a two-hundred day moving average price of $21.13. The stock has a market cap of $979.88 million, a PE ratio of 11.00 and a beta of 1.24.

Plymouth Industrial REIT (NYSE:PLYM) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($1.70). The firm had revenue of $51.16 million during the quarter, compared to analyst estimates of $49.62 million. Plymouth Industrial REIT had a return on equity of 16.76% and a net margin of 47.78%. As a group, sell-side analysts predict 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.