Wedbush Upgrades Plymouth Industrial REIT (NYSE:PLYM) to Hold

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.

A number of other equities research analysts have also weighed in on the stock. Wall Street Zen lowered shares of Plymouth Industrial REIT from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Robert W. Baird cut their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Barclays decreased 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. KeyCorp cut their price target on Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Truist Financial decreased their price target 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. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $21.10.

Plymouth Industrial REIT Trading Down 2.8%

Shares of NYSE:PLYM traded down $0.45 on Wednesday, hitting $15.90. 353,779 shares of the company's stock were exchanged, compared to its average volume of 338,586. The stock has a market capitalization of $724.25 million, a price-to-earnings ratio of 5.21 and a beta of 1.11. Plymouth Industrial REIT has a 12 month low of $12.70 and a 12 month high of $24.71. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.27 and a quick ratio of 0.27. The business's 50 day simple moving average is $16.08 and its two-hundred day simple moving average is $16.31.

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

Institutional Investors Weigh In On Plymouth Industrial REIT

Several institutional investors have recently bought and sold shares of PLYM. BROOKFIELD Corp ON purchased a new stake in shares of Plymouth Industrial REIT during the first quarter worth $3,894,000. Strs Ohio acquired a new position in Plymouth Industrial REIT during the first quarter worth $6,652,000. Focus Partners Wealth grew its holdings in Plymouth Industrial REIT by 213.1% in the 1st quarter. Focus Partners Wealth now owns 55,075 shares of the company's stock valued at $898,000 after buying an additional 37,484 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Plymouth Industrial REIT in the first quarter valued at about $460,000. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in Plymouth Industrial REIT by 25.2% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,288 shares of the company's stock valued at $412,000 after purchasing an additional 5,091 shares during the last quarter. 92.67% of the stock is currently 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.