Wall Street Zen Upgrades Plymouth Industrial REIT (NYSE:PLYM) to "Hold"

Key Points

• Wall Street Zen has upgraded Plymouth Industrial REIT (NYSE:PLYM) from a "sell" rating to a "hold" rating, reflecting a more optimistic outlook for the company.
• The consensus rating for Plymouth Industrial REIT now stands at "Hold" with a target price of $20.44, following several ratings changes from other analysts.
• PLYM reported earnings of $0.46 per share for the last quarter, surpassing estimates, and has a market capitalization of approximately $666.91 million.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Several other research firms also recently weighed in on PLYM. Wedbush upgraded Plymouth Industrial REIT to a "hold" rating in a research report on Wednesday, July 2nd. Robert W. Baird reduced their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Plymouth Industrial REIT currently has a consensus rating of "Hold" and an average price target of $20.44.

Plymouth Industrial REIT Stock Up 48.2%

Shares of NYSE PLYM traded up $7.06 during mid-day trading on Friday, hitting $21.70. 4,671,490 shares of the stock traded hands, compared to its average volume of 396,865. The stock has a fifty day moving average price of $15.66 and a 200-day moving average price of $15.87. The company has a market cap of $966.74 million, a price-to-earnings ratio of 7.53 and a beta of 1.11. 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 52 week low of $12.70 and a 52 week high of $24.70.

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 net margin of 67.77% and a return on equity of 24.24%. The firm had revenue of $47.20 million during the quarter, compared to analyst estimates of $46.20 million. Research analysts anticipate that Plymouth Industrial REIT will post 1.83 EPS for the current year.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. boosted its position in Plymouth Industrial REIT by 4.3% in the 4th quarter. Pinebridge Investments L.P. now owns 18,688 shares of the company's stock valued at $333,000 after buying an additional 773 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Plymouth Industrial REIT by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company's stock worth $406,000 after buying an additional 817 shares during the period. Parallel Advisors LLC grew its position in shares of Plymouth Industrial REIT by 136.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,594 shares of the company's stock worth $26,000 after buying an additional 919 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of Plymouth Industrial REIT by 1.6% during the first quarter. D.A. Davidson & CO. now owns 58,905 shares of the company's stock valued at $960,000 after buying an additional 949 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in Plymouth Industrial REIT by 0.6% during the 4th quarter. Two Sigma Advisers LP now owns 185,700 shares of the company's stock worth $3,305,000 after acquiring an additional 1,100 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

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.