Plymouth Industrial REIT (NYSE:PLYM) Price Target Lowered to $18.00 at Truist Financial

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) had its price target decreased by analysts at Truist Financial from $20.00 to $18.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Truist Financial's target price would indicate a potential upside of 6.91% from the company's current price.

A number of other research firms also recently commented on PLYM. Robert W. Baird reduced their price objective on shares of Plymouth Industrial REIT from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. JMP Securities reissued a "market outperform" rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. Wedbush set a $17.00 price target on Plymouth Industrial REIT in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. dropped their price objective on 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 given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $22.00.

Plymouth Industrial REIT Stock Up 0.2 %

Shares of PLYM traded up $0.03 during mid-day trading on Monday, hitting $16.84. 261,515 shares of the company's stock were exchanged, compared to its average volume of 294,186. The company has a 50-day simple moving average of $16.83 and a 200 day simple moving average of $18.81. 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 company has a market cap of $766.90 million, a PE ratio of 841.80 and a beta of 1.45. Plymouth Industrial REIT has a 52 week low of $16.06 and a 52 week high of $24.71.

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Hedge Funds Weigh In On Plymouth Industrial REIT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLYM. Westwood Holdings Group Inc. lifted its stake in shares of Plymouth Industrial REIT by 33.0% during the 4th quarter. Westwood Holdings Group Inc. now owns 3,631,111 shares of the company's stock worth $64,634,000 after buying an additional 901,251 shares during the last quarter. Mesirow Institutional Investment Management Inc. bought a new position in Plymouth Industrial REIT in the 4th quarter valued at about $10,433,000. Adage Capital Partners GP L.L.C. acquired a new stake in Plymouth Industrial REIT during the fourth quarter worth approximately $9,612,000. Thompson Siegel & Walmsley LLC bought a new position in Plymouth Industrial REIT during the 4th quarter worth $7,443,000. Finally, Charles Schwab Investment Management Inc. raised its holdings 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 acquiring an additional 180,003 shares in the last quarter. 92.67% of the stock is owned by 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.