Robert W. Baird Issues Pessimistic Forecast for Plymouth Industrial REIT (NYSE:PLYM) Stock Price

Plymouth Industrial REIT (NYSE:PLYM) had its price objective cut by equities researchers at Robert W. Baird from $26.00 to $25.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 19.85% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. BMO Capital Markets lowered their target price on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Wednesday, August 28th. BNP Paribas cut shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research note on Friday. B. Riley boosted their target price on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Truist Financial increased their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, JMP Securities reissued a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.22.

Plymouth Industrial REIT Price Performance

NYSE PLYM opened at $20.86 on Tuesday. The stock has a market capitalization of $946.96 million, a price-to-earnings ratio of 1,043.00, a PEG ratio of 1.62 and a beta of 1.37. Plymouth Industrial REIT has a 1-year low of $19.84 and a 1-year high of $25.55. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.16 and a quick ratio of 0.16. The business’s fifty day moving average price is $21.88 and its 200-day moving average price is $22.03.

Insider Buying and Selling

In other news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $23.58, for a total value of $13,285,868.04. Following the completion of the transaction, the insider now owns 4,474,292 shares of the company’s stock, valued at $105,503,805.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several hedge funds have recently modified their holdings of PLYM. Copeland Capital Management LLC bought a new stake in Plymouth Industrial REIT in the 3rd quarter valued at $43,000. EntryPoint Capital LLC grew its position in shares of Plymouth Industrial REIT by 33.9% during the first quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock valued at $112,000 after purchasing an additional 1,266 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Plymouth Industrial REIT by 431.0% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock worth $202,000 after purchasing an additional 7,668 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Plymouth Industrial REIT in the third quarter worth about $202,000. Finally, SG Americas Securities LLC bought a new position in Plymouth Industrial REIT during the third quarter valued at approximately $204,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.