Robert W. Baird Has Lowered Expectations for Plymouth Industrial REIT (NYSE:PLYM) Stock Price

Plymouth Industrial REIT (NYSE:PLYM) had its price target lowered by equities researchers at Robert W. Baird from $26.00 to $25.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 27.88% from the company’s previous close.

Several other research firms also recently weighed in on PLYM. Wedbush lifted their target price on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. BMO Capital Markets lowered their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 28th. Barclays raised their target price on Plymouth Industrial REIT from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Truist Financial upped their price target on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, JMP Securities restated a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Plymouth Industrial REIT currently has an average rating of “Hold” and an average target price of $25.22.

Plymouth Industrial REIT Trading Down 0.5 %

NYSE:PLYM opened at $19.55 on Tuesday. The stock has a fifty day simple moving average of $21.80 and a 200 day simple moving average of $22.02. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $887.57 million, a price-to-earnings ratio of 983.50, a price-to-earnings-growth ratio of 1.53 and a beta of 1.37. Plymouth Industrial REIT has a 1-year low of $19.44 and a 1-year high of $25.55.

Insider Activity

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $23.58, for a total value of $13,285,868.04. Following the transaction, the insider now owns 4,474,292 shares in the company, valued at approximately $105,503,805.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of large investors have recently bought and sold shares of the business. Meros Investment Management LP lifted its position in shares of Plymouth Industrial REIT by 38.2% in the second quarter. Meros Investment Management LP now owns 402,923 shares of the company’s stock worth $8,614,000 after buying an additional 111,339 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Plymouth Industrial REIT by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock worth $95,943,000 after purchasing an additional 115,318 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in Plymouth Industrial REIT by 1.0% during the second quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock worth $63,372,000 after purchasing an additional 28,272 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Plymouth Industrial REIT by 17.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,008 shares of the company’s stock valued at $293,000 after purchasing an additional 1,892 shares during the last quarter. Finally, F M Investments LLC bought a new position in shares of Plymouth Industrial REIT in the second quarter valued at approximately $6,088,000. 92.67% of the stock is currently owned by institutional investors.

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.