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

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) had its price target dropped by Barclays from $22.00 to $18.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's target price would indicate a potential upside of 16.58% from the stock's previous close.

PLYM has been the subject of a number of other reports. Truist Financial dropped their price target on Plymouth Industrial REIT from $20.00 to $18.00 and set a "hold" rating for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. dropped their target price on Plymouth Industrial REIT from $20.00 to $19.00 and set an "underweight" rating for the company in a report on Tuesday, January 14th. Robert W. Baird reduced their price target on Plymouth Industrial REIT from $21.00 to $20.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. Wedbush set a $17.00 price target on shares of Plymouth Industrial REIT in a research report on Friday, February 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 Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $21.56.

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Plymouth Industrial REIT Price Performance

PLYM traded down $0.88 on Monday, reaching $15.44. 300,731 shares of the company's stock were exchanged, compared to its average volume of 353,485. Plymouth Industrial REIT has a twelve month low of $15.39 and a twelve month high of $24.71. The stock has a market cap of $703.31 million, a PE ratio of 772.00 and a beta of 1.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.12 and a quick ratio of 0.12. The stock's fifty day moving average price is $16.80 and its 200-day moving average price is $18.65.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of Plymouth Industrial REIT by 321.2% during the third quarter. Barclays PLC now owns 63,101 shares of the company's stock worth $1,426,000 after purchasing an additional 48,119 shares in the last quarter. Geode Capital Management LLC increased its stake in Plymouth Industrial REIT by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company's stock worth $23,685,000 after buying an additional 29,924 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Plymouth Industrial REIT by 137.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,201 shares of the company's stock worth $1,519,000 after buying an additional 38,850 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Plymouth Industrial REIT during the 3rd quarter worth approximately $248,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Plymouth Industrial REIT by 24.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company's stock valued at $20,583,000 after buying an additional 180,003 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.