Plymouth Industrial REIT (NYSE:PLYM) Cut to "Neutral" at Robert W. Baird

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) was downgraded by stock analysts at Robert W. Baird from an "outperform" rating to a "neutral" rating in a note issued to investors on Thursday, MarketBeat.com reports. They currently have a $24.00 price target on the stock. Robert W. Baird's target price indicates a potential upside of 8.58% from the company's previous close.

A number of other research firms have also recently commented on PLYM. Wedbush upgraded Plymouth Industrial REIT to a "hold" rating in a research note on Wednesday, July 2nd. Truist Financial increased their target price on shares of Plymouth Industrial REIT from $18.00 to $21.00 and gave the company a "hold" rating in a research report on Wednesday, August 20th. BMO Capital Markets upped their price objective on Plymouth Industrial REIT from $17.00 to $24.00 and gave the company a "market perform" rating in a research note on Thursday, August 21st. Wall Street Zen upgraded Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Plymouth Industrial REIT in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Plymouth Industrial REIT presently has a consensus rating of "Hold" and an average target price of $21.89.

Plymouth Industrial REIT Trading Up 0.1%

NYSE:PLYM opened at $22.10 on Thursday. The firm has a market cap of $984.69 million, a price-to-earnings ratio of 7.67 and a beta of 1.16. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a 50-day moving average price of $21.43 and a two-hundred day moving average price of $17.55. Plymouth Industrial REIT has a 52 week low of $12.70 and a 52 week high of $22.65.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. Plymouth Industrial REIT had a return on equity of 24.24% and a net margin of 67.77%.The company had revenue of $47.20 million during the quarter, compared to analyst estimates of $46.20 million. On average, equities analysts expect that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plymouth Industrial REIT

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of Plymouth Industrial REIT by 6,862.5% in the first quarter. GAMMA Investing LLC now owns 3,342 shares of the company's stock valued at $54,000 after purchasing an additional 3,294 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Plymouth Industrial REIT in the 1st quarter worth about $408,000. Copeland Capital Management LLC boosted its stake in Plymouth Industrial REIT by 79.9% in the 1st quarter. Copeland Capital Management LLC now owns 3,509 shares of the company's stock worth $57,000 after purchasing an additional 1,558 shares during the period. New York State Teachers Retirement System purchased a new stake in shares of Plymouth Industrial REIT in the first quarter worth about $60,000. Finally, Peregrine Capital Management LLC purchased a new stake in shares of Plymouth Industrial REIT in the first quarter worth about $5,199,000. Institutional investors 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.

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