Plymouth Industrial REIT (NYSE:PLYM) Given Consensus Recommendation of “Hold” by Brokerages

Plymouth Industrial REIT (NYSE:PLYM) has earned a consensus rating of “Hold” from the twelve analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $21.40.

PLYM has been the subject of several recent analyst reports. Industrial Alliance Securities set a $22.00 target price on Plymouth Industrial REIT in a report on Monday, October 27th. BMO Capital Markets cut their price objective on Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating on the stock in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, October 8th. Colliers Securities cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research note on Monday, October 27th. Finally, Baird R W downgraded shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PLYM. Parallel Advisors LLC lifted its position in shares of Plymouth Industrial REIT by 136.1% during the second quarter. Parallel Advisors LLC now owns 1,594 shares of the company’s stock worth $26,000 after acquiring an additional 919 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Plymouth Industrial REIT by 233.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,605 shares of the company’s stock worth $36,000 after purchasing an additional 1,123 shares in the last quarter. CWM LLC boosted its stake in Plymouth Industrial REIT by 40.5% in the 3rd quarter. CWM LLC now owns 2,210 shares of the company’s stock worth $49,000 after purchasing an additional 637 shares during the period. Covestor Ltd boosted its stake in Plymouth Industrial REIT by 1,965.3% in the 3rd quarter. Covestor Ltd now owns 2,499 shares of the company’s stock worth $55,000 after purchasing an additional 2,378 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Plymouth Industrial REIT by 65.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,834 shares of the company’s stock valued at $62,000 after buying an additional 1,514 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Plymouth Industrial REIT Price Performance

PLYM opened at $21.86 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.13 and a quick ratio of 0.13. The company’s 50-day moving average is $22.01 and its 200 day moving average is $19.56. Plymouth Industrial REIT has a fifty-two week low of $12.70 and a fifty-two week high of $22.74. The firm has a market capitalization of $973.86 million, a P/E ratio of 10.93 and a beta of 1.26.

Plymouth Industrial REIT (NYSE:PLYM) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($1.70). The firm had revenue of $51.16 million during the quarter, compared to the consensus estimate of $49.62 million. Plymouth Industrial REIT had a return on equity of 16.76% and a net margin of 47.78%. Research analysts expect that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

About Plymouth Industrial REIT

Plymouth Industrial REIT, Inc (NYSE: PLYM) is a real estate investment trust specializing in the acquisition, ownership and management of industrial properties across the United States. The company targets bulk distribution warehouses, last-mile fulfillment centers and light manufacturing facilities that serve leading logistics, e-commerce and manufacturing tenants. Plymouth Industrial REIT focuses on assets located in established industrial markets with strong demand drivers, including proximity to major transportation corridors, ports and population centers.

The firm’s portfolio strategy emphasizes geographic diversification and properties with high barriers to entry.