Plymouth Industrial REIT (NYSE:PLYM) Stock Rating Upgraded by Wedbush

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) was upgraded by equities research analysts at Wedbush to a "hold" rating in a note issued to investors on Wednesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. 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 report on Monday, March 24th. Barclays dropped their target price on Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating for the company in a report on Monday, March 31st. Wall Street Zen cut Plymouth Industrial REIT from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Robert W. Baird dropped their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Finally, KeyCorp lowered their price target on Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $21.10.

Plymouth Industrial REIT Stock Performance

NYSE PLYM opened at $16.35 on Wednesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.27 and a current ratio of 0.27. The stock's fifty day moving average is $16.05 and its two-hundred day moving average is $16.35. The firm has a market capitalization of $744.74 million, a P/E ratio of 5.36 and a beta of 1.11. Plymouth Industrial REIT has a fifty-two week low of $12.70 and a fifty-two week high of $24.71.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). The company had revenue of $45.57 million during the quarter, compared to analysts' expectations of $47.69 million. Plymouth Industrial REIT had a net margin of 71.08% and a return on equity of 26.42%. On average, research analysts anticipate that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Institutional Trading of Plymouth Industrial REIT

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC grew its position in Plymouth Industrial REIT by 6,862.5% in the 1st quarter. GAMMA Investing LLC now owns 3,342 shares of the company's stock valued at $54,000 after acquiring an additional 3,294 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Plymouth Industrial REIT by 17.3% in the fourth quarter. Legal & General Group Plc now owns 41,472 shares of the company's stock valued at $738,000 after purchasing an additional 6,119 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Plymouth Industrial REIT by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company's stock valued at $406,000 after purchasing an additional 817 shares in the last quarter. Bank of America Corp DE increased its stake in Plymouth Industrial REIT by 4.0% during the 4th quarter. Bank of America Corp DE now owns 139,150 shares of the company's stock worth $2,477,000 after buying an additional 5,359 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Plymouth Industrial REIT by 22.4% during the 4th quarter. Bank of New York Mellon Corp now owns 224,504 shares of the company's stock worth $3,996,000 after buying an additional 41,033 shares during the period. 92.67% of the stock is 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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