Truist Financial Increases Plymouth Industrial REIT (NYSE:PLYM) Price Target to $21.00

Plymouth Industrial REIT (NYSE:PLYM) had its price objective raised by equities research analysts at Truist Financial from $18.00 to $21.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential upside of 0.32% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Robert W. Baird lowered their price target on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Thursday, May 8th. Wall Street Zen raised shares of Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Wedbush raised Plymouth Industrial REIT to a “hold” rating in a research report on Wednesday, July 2nd. Finally, JMP Securities reissued a “market perform” rating on shares of Plymouth Industrial REIT in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.67.

Plymouth Industrial REIT Trading Up 0.2%

Shares of NYSE:PLYM opened at $20.9320 on Wednesday. The company has a market capitalization of $932.52 million, a PE ratio of 7.27 and a beta of 1.11. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.15. Plymouth Industrial REIT has a 12-month low of $12.70 and a 12-month high of $24.70. The business’s fifty day simple moving average is $15.93 and its 200-day simple moving average is $15.98.

Plymouth Industrial REIT (NYSE:PLYM) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Plymouth Industrial REIT had a return on equity of 24.24% and a net margin of 67.77%.The company had revenue of $47.20 million for the quarter, compared to the consensus estimate of $46.20 million. As a group, equities research analysts predict that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plymouth Industrial REIT

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake 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 worth $54,000 after acquiring an additional 3,294 shares during the last quarter. Legal & General Group Plc increased its holdings 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. Janney Montgomery Scott LLC purchased a new position in shares of Plymouth Industrial REIT in the first quarter worth about $408,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 worth $406,000 after purchasing an additional 817 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Plymouth Industrial REIT by 4.0% during the fourth quarter. Bank of America Corp DE now owns 139,150 shares of the company’s stock worth $2,477,000 after purchasing an additional 5,359 shares during the period. 92.67% of the stock is 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.