Robert W. Baird Cuts Plymouth Industrial REIT (NYSE:PLYM) Price Target to $25.00

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) had its target price reduced by research analysts at Robert W. Baird from $26.00 to $25.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's price target points to a potential upside of 26.65% from the stock's current price.

Several other equities analysts have also issued reports on the company. Truist Financial raised their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a "buy" rating in a report on Wednesday, August 28th. BMO Capital Markets lowered their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set a "market perform" rating on the stock in a report on Wednesday, August 28th. B. Riley raised their price target on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a "buy" rating in a report on Monday, August 5th. BNP Paribas lowered Plymouth Industrial REIT from an "outperform" rating to a "neutral" rating and set a $23.00 price target on the stock. in a report on Friday. Finally, JMP Securities reissued a "market outperform" rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Plymouth Industrial REIT has a consensus rating of "Hold" and a consensus price target of $25.22.

Plymouth Industrial REIT Stock Down 5.4 %

NYSE:PLYM traded down $1.12 during trading hours on Tuesday, hitting $19.74. The company's stock had a trading volume of 257,730 shares, compared to its average volume of 251,360. The stock has a market capitalization of $896.12 million, a P/E ratio of 1,043.00, a price-to-earnings-growth ratio of 1.62 and a beta of 1.37. The stock has a fifty day moving average of $21.88 and a 200-day moving average of $22.03. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49. Plymouth Industrial REIT has a 52-week low of $19.68 and a 52-week high of $25.55.

Insiders Place Their Bets

In other Plymouth Industrial REIT news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of Plymouth Industrial REIT stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $23.58, for a total value of $13,285,868.04. Following the completion of the sale, the insider now directly owns 4,474,292 shares of the company's stock, valued at approximately $105,503,805.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of Plymouth Industrial REIT

Several institutional investors have recently made changes to their positions in the stock. Copeland Capital Management LLC acquired a new position in shares of Plymouth Industrial REIT during the 3rd quarter valued at $43,000. EntryPoint Capital LLC lifted its holdings in shares of Plymouth Industrial REIT by 33.9% during the 1st quarter. EntryPoint Capital LLC now owns 4,997 shares of the company's stock valued at $112,000 after acquiring an additional 1,266 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Plymouth Industrial REIT during the 3rd quarter valued at $202,000. SG Americas Securities LLC acquired a new position in Plymouth Industrial REIT in the 3rd quarter worth $204,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Plymouth Industrial REIT in the 3rd quarter valued at about $205,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

About Plymouth Industrial REIT

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.