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

Plymouth Industrial REIT (NYSE:PLYM) has been assigned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $21.00.

PLYM has been the subject of several recent research reports. BMO Capital Markets lowered their price objective on Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating for the company in a research report on Monday, October 27th. Robert W. Baird cut shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $19.00 to $24.00 in a research report on Thursday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Plymouth Industrial REIT in a report on Wednesday, October 8th. Barclays decreased their target price on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, October 27th. Finally, Baird R W cut Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd.

Insider Buying and Selling at Plymouth Industrial REIT

In related news, CEO Jeffrey E. Witherell sold 151,583 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $21.86, for a total value of $3,313,604.38. Following the transaction, the chief executive officer owned 437,682 shares in the company, valued at $9,567,728.52. The trade was a 25.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Connolly sold 59,376 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $21.86, for a total transaction of $1,297,959.36. Following the sale, the executive vice president directly owned 120,236 shares in the company, valued at $2,628,358.96. This trade represents a 33.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.60% of the company’s stock.

Institutional Trading of Plymouth Industrial REIT

A number of institutional investors have recently made changes to their positions in PLYM. Parallel Advisors LLC raised its holdings 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 valued at $26,000 after purchasing an additional 919 shares during the last quarter. GAMMA Investing LLC grew its position in Plymouth Industrial REIT by 233.0% in 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 during the period. CWM LLC raised its stake in Plymouth Industrial REIT by 40.5% during the 3rd quarter. CWM LLC now owns 2,210 shares of the company’s stock valued at $49,000 after buying an additional 637 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Plymouth Industrial REIT by 1,965.3% during the 3rd quarter. Covestor Ltd now owns 2,499 shares of the company’s stock valued at $55,000 after buying an additional 2,378 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Performance

Plymouth Industrial REIT stock opened at $21.95 on Wednesday. Plymouth Industrial REIT has a fifty-two week low of $12.70 and a fifty-two week high of $22.74. The stock’s 50 day simple moving average is $21.99 and its two-hundred day simple moving average is $20.26. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market cap of $977.65 million, a price-to-earnings ratio of 10.97 and a beta of 1.24.

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

Plymouth Industrial REIT Company Profile

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.