Barclays Lowers Plymouth Industrial REIT (NYSE:PLYM) Price Target to $18.00

Plymouth Industrial REIT (NYSE:PLYM) had its price target dropped by stock analysts at Barclays from $22.00 to $18.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 9.49% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Wedbush set a $17.00 target price on Plymouth Industrial REIT in a report on Friday, February 28th. Robert W. Baird decreased their target price on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Truist Financial cut their price target on shares of Plymouth Industrial REIT from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Monday, March 24th. JMP Securities reiterated a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. cut their target price on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $21.56.

Plymouth Industrial REIT Trading Down 1.0 %

PLYM stock traded down $0.17 on Monday, hitting $16.44. 23,163 shares of the company were exchanged, compared to its average volume of 351,338. The stock has a market capitalization of $748.86 million, a price-to-earnings ratio of 821.55 and a beta of 1.45. The business’s fifty day moving average is $16.83 and its two-hundred day moving average is $18.76. Plymouth Industrial REIT has a twelve month low of $16.06 and a twelve month 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.

Institutional Investors Weigh In On Plymouth Industrial REIT

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pinebridge Investments L.P. grew its position in shares of Plymouth Industrial REIT by 4.3% during the fourth quarter. Pinebridge Investments L.P. now owns 18,688 shares of the company’s stock worth $333,000 after buying an additional 773 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Plymouth Industrial REIT by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,822 shares of the company’s stock worth $406,000 after acquiring an additional 817 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Plymouth Industrial REIT by 38.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock worth $54,000 after purchasing an additional 844 shares during the last quarter. Quarry LP raised its stake in shares of Plymouth Industrial REIT by 88.4% in the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after purchasing an additional 860 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Plymouth Industrial REIT by 1.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 47,100 shares of the company’s stock worth $1,064,000 after purchasing an additional 900 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other 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.