Robert W. Baird Issues Pessimistic Forecast for Plymouth Industrial REIT (NYSE:PLYM) Stock Price

Plymouth Industrial REIT (NYSE:PLYM) had its price objective dropped by research analysts at Robert W. Baird from $20.00 to $19.00 in a report released on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 21.02% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Wedbush set a $17.00 price objective on shares of Plymouth Industrial REIT in a research report on Friday, February 28th. Barclays dropped their price target on Plymouth Industrial REIT from $22.00 to $18.00 and set an “equal weight” rating for the company in a report on Monday, March 31st. JMP Securities reissued a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. KeyCorp dropped their price objective on shares of Plymouth Industrial REIT from $23.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Truist Financial decreased their target price on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Plymouth Industrial REIT presently has a consensus rating of “Hold” and an average target price of $21.10.

Plymouth Industrial REIT Stock Performance

Shares of PLYM opened at $15.70 on Thursday. The company has a market cap of $715.10 million, a PE ratio of 785.00 and a beta of 1.11. The firm has a 50-day moving average of $15.59 and a 200-day moving average of $17.20. Plymouth Industrial REIT has a one year low of $12.70 and a one year high of $24.71. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12.

Plymouth Industrial REIT (NYSE:PLYM) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Plymouth Industrial REIT had a return on equity of 0.20% and a net margin of 0.46%. The business had revenue of $45.57 million for the quarter, compared to the consensus estimate of $47.69 million. As a group, equities analysts forecast that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of institutional investors have recently modified their holdings of PLYM. Westwood Holdings Group Inc. grew its position in Plymouth Industrial REIT by 24.5% in the first quarter. Westwood Holdings Group Inc. now owns 4,520,361 shares of the company’s stock valued at $73,682,000 after acquiring an additional 889,250 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Plymouth Industrial REIT by 43.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the company’s stock valued at $75,000 after purchasing an additional 1,375 shares during the last quarter. Heartland Advisors Inc. increased its position in Plymouth Industrial REIT by 56.7% during the 1st quarter. Heartland Advisors Inc. now owns 549,900 shares of the company’s stock worth $8,963,000 after purchasing an additional 198,900 shares in the last quarter. Wedbush Securities Inc. increased its position in Plymouth Industrial REIT by 49.7% during the 1st quarter. Wedbush Securities Inc. now owns 20,549 shares of the company’s stock worth $335,000 after purchasing an additional 6,826 shares in the last quarter. Finally, Allianz Asset Management GmbH bought a new position in Plymouth Industrial REIT in the 1st quarter valued at approximately $729,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.