Plymouth Industrial REIT (NYSE:PLYM) Receives Consensus Rating of “Hold” from Brokerages

Plymouth Industrial REIT (NYSE:PLYM) has been assigned a consensus rating of “Hold” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $21.00.

PLYM has been the subject of a number of research reports. BMO Capital Markets reduced their target price on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating for the company in a report on Monday, October 27th. Barclays cut their price objective on Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, October 27th. Robert W. Baird cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $19.00 to $24.00 in a report on Thursday, October 23rd. iA Financial set a $22.00 target price on Plymouth Industrial REIT in a report on Monday, October 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Plymouth Industrial REIT in a research report on Thursday, January 22nd.

Insider Activity

In other news, CEO Jeffrey E. Witherell sold 151,583 shares of Plymouth Industrial REIT stock in a transaction that occurred on 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 directly owned 437,682 shares of the company’s stock, valued at $9,567,728.52. This trade represents a 25.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James Connolly sold 59,376 shares of the business’s stock in a transaction that occurred on 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 owned 120,236 shares in the company, valued at $2,628,358.96. This represents a 33.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Plymouth Industrial REIT

Large investors have recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. purchased a new stake in Plymouth Industrial REIT in the 3rd quarter worth approximately $2,626,000. Peregrine Capital Management LLC grew its holdings in shares of Plymouth Industrial REIT by 10.6% during the 2nd quarter. Peregrine Capital Management LLC now owns 352,648 shares of the company’s stock valued at $5,664,000 after acquiring an additional 33,668 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Plymouth Industrial REIT by 3.0% in the second quarter. Jennison Associates LLC now owns 3,645,335 shares of the company’s stock worth $58,544,000 after acquiring an additional 104,526 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Plymouth Industrial REIT by 103.8% during the second quarter. Envestnet Asset Management Inc. now owns 45,387 shares of the company’s stock worth $729,000 after acquiring an additional 23,113 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Plymouth Industrial REIT by 1.2% during the second quarter. Geode Capital Management LLC now owns 1,079,383 shares of the company’s stock valued at $17,335,000 after purchasing an additional 12,842 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Plymouth Industrial REIT Stock Up 0.1%

Shares of PLYM stock opened at $22.00 on Friday. Plymouth Industrial REIT has a 1 year low of $12.70 and a 1 year high of $22.74. 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 business’s fifty day moving average is $21.92 and its 200-day moving average is $20.99. The stock has a market cap of $979.88 million, a PE ratio of 11.00 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 for the quarter, missing the consensus estimate of $0.47 by ($1.70). Plymouth Industrial REIT had a net margin of 47.78% and a return on equity of 16.76%. The firm had revenue of $51.16 million for the quarter, compared to the consensus estimate of $49.62 million. Equities 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.