Plymouth Industrial REIT (NYSE:PLYM) Given Hold (C) Rating at Weiss Ratings

Key Points

• Plymouth Industrial REIT's stock (NYSE: PLYM) has been given a "hold (c)" rating by Weiss Ratings, reflecting cautious sentiment among analysts.
• Truist Financial recently increased its price objective for the stock from $18.00 to $21.00, indicating potential for moderate growth.
• The current consensus target price for Plymouth Industrial REIT is $21.33, with a majority of analysts assigning it a "hold" rating.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report)'s stock had its "hold (c)" rating reiterated by investment analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other equities analysts also recently commented on the stock. Citizens Jmp downgraded shares of Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Truist Financial upped their price objective on shares of Plymouth Industrial REIT from $18.00 to $21.00 and gave the stock a "hold" rating in a research report on Wednesday, August 20th. JMP Securities reaffirmed a "market perform" rating on shares of Plymouth Industrial REIT in a research note on Wednesday, August 20th. Wall Street Zen raised shares of Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, BMO Capital Markets upped their price target on shares of Plymouth Industrial REIT from $17.00 to $24.00 and gave the stock a "market perform" rating in a research note on Thursday, August 21st. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Plymouth Industrial REIT has a consensus rating of "Hold" and a consensus target price of $21.33.

Plymouth Industrial REIT Stock Down 0.4%

Shares of Plymouth Industrial REIT stock opened at $21.90 on Wednesday. The company has a market cap of $975.65 million, a P/E ratio of 7.60 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. Plymouth Industrial REIT has a one year low of $12.70 and a one year high of $22.65. The firm has a fifty day moving average of $19.98 and a two-hundred day moving average of $17.18.

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

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of large investors have recently added to or reduced their stakes in PLYM. Westwood Holdings Group Inc. grew its stake in Plymouth Industrial REIT by 24.5% in the 1st quarter. Westwood Holdings Group Inc. now owns 4,520,361 shares of the company's stock valued at $73,682,000 after acquiring an additional 889,250 shares during the last quarter. MetLife Investment Management LLC grew its stake in Plymouth Industrial REIT by 2,406.8% in the 1st quarter. MetLife Investment Management LLC now owns 656,826 shares of the company's stock valued at $10,706,000 after acquiring an additional 630,624 shares during the last quarter. Strs Ohio acquired a new stake in Plymouth Industrial REIT in the 1st quarter valued at about $6,652,000. Peregrine Capital Management LLC acquired a new stake in Plymouth Industrial REIT in the 1st quarter valued at about $5,199,000. Finally, BROOKFIELD Corp ON acquired a new stake in Plymouth Industrial REIT in the 1st quarter valued at about $3,894,000. 92.67% of the stock is owned by institutional investors and hedge funds.

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.

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