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

Plymouth Industrial REIT (NYSE:PLYM) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

PLYM has been the subject of several other reports. Wedbush upgraded shares of Plymouth Industrial REIT to a “hold” rating in a report on Wednesday, July 2nd. Robert W. Baird dropped 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.44.

Plymouth Industrial REIT Stock Performance

Shares of PLYM opened at $14.97 on Friday. The company has a 50-day simple moving average of $15.70 and a 200-day simple moving average of $15.90. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $666.91 million, a PE ratio of 5.20 and a beta of 1.11. Plymouth Industrial REIT has a 52-week low of $12.70 and a 52-week high of $24.70.

Plymouth Industrial REIT (NYSE:PLYM) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $47.20 million during the quarter, compared to the consensus estimate of $46.20 million. Equities research analysts predict that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC increased its stake in shares of Plymouth Industrial REIT by 136.1% in the second quarter. Parallel Advisors LLC now owns 1,594 shares of the company’s stock worth $26,000 after buying an additional 919 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Plymouth Industrial REIT by 6,862.5% in the first quarter. GAMMA Investing LLC now owns 3,342 shares of the company’s stock worth $54,000 after buying an additional 3,294 shares during the last quarter. Quarry LP increased its stake in shares of Plymouth Industrial REIT by 74.1% in the fourth quarter. Quarry LP now owns 3,191 shares of the company’s stock worth $57,000 after buying an additional 1,358 shares during the last quarter. Copeland Capital Management LLC increased its stake in shares of Plymouth Industrial REIT by 79.9% in the first quarter. Copeland Capital Management LLC now owns 3,509 shares of the company’s stock worth $57,000 after buying an additional 1,558 shares during the last quarter. Finally, New York State Teachers Retirement System bought a new stake in shares of Plymouth Industrial REIT in the first quarter worth $60,000. 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.