Plymouth Industrial REIT (NYSE:PLYM) Rating Lowered to Hold at Baird R W

Key Points

• Plymouth Industrial REIT has been downgraded by Baird R W from a "strong-buy" rating to a "hold" rating, reflecting analysts' mixed sentiment about the company's stock.
• Despite the downgrade, BMO Capital Markets increased its price target for Plymouth Industrial REIT shares from $17.00 to $24.00, indicating some optimism remains in the market.
• Currently, the stock has an average rating of "Hold" among analysts, with a consensus target price of $21.89 per share.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) was downgraded by research analysts at Baird R W from a "strong-buy" rating to a "hold" rating in a note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets raised their price objective on shares of Plymouth Industrial REIT from $17.00 to $24.00 and gave the company a "market perform" rating in a report on Thursday, August 21st. Citizens Jmp lowered shares of Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Wedbush upgraded shares of Plymouth Industrial REIT to a "hold" rating in a report on Wednesday, July 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Plymouth Industrial REIT in a report on Wednesday, October 8th. Finally, JMP Securities restated a "market perform" rating on shares of Plymouth Industrial REIT in a report on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Plymouth Industrial REIT presently has an average rating of "Hold" and a consensus target price of $21.89.

Plymouth Industrial REIT Stock Performance

Shares of PLYM stock opened at $22.06 on Thursday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.15. Plymouth Industrial REIT has a 52 week low of $12.70 and a 52 week high of $22.65. The stock has a market capitalization of $982.55 million, a PE ratio of 7.66 and a beta of 1.16. The firm has a 50 day moving average of $21.58 and a two-hundred day moving average of $17.61.

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

Institutional Investors Weigh In On Plymouth Industrial REIT

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

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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