Plymouth Industrial REIT (NYSE:PLYM) PT Raised to $25.00

Plymouth Industrial REIT (NYSE:PLYM) had its price target lifted by analysts at Barclays from $22.00 to $25.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 6.29% from the stock’s current price.

A number of other equities analysts have also weighed in on PLYM. B. Riley boosted their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Truist Financial increased their price target on shares of Plymouth Industrial REIT from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday. Wedbush lifted their price target on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. lowered their price objective on Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.50.

Plymouth Industrial REIT Price Performance

PLYM stock traded up $0.03 during mid-day trading on Wednesday, reaching $23.52. The company’s stock had a trading volume of 11,843 shares, compared to its average volume of 231,069. The stock has a market cap of $1.07 billion, a PE ratio of 54.72, a P/E/G ratio of 1.77 and a beta of 1.36. The company’s 50 day moving average is $22.38 and its two-hundred day moving average is $21.75. Plymouth Industrial REIT has a fifty-two week low of $19.21 and a fifty-two week high of $25.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its position in shares of Plymouth Industrial REIT by 2,306.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,155 shares of the company’s stock valued at $28,000 after purchasing an additional 1,107 shares during the last quarter. Signaturefd LLC raised its position in Plymouth Industrial REIT by 40.8% in the 4th quarter. Signaturefd LLC now owns 1,731 shares of the company’s stock valued at $42,000 after purchasing an additional 502 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Plymouth Industrial REIT by 77.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,751 shares of the company’s stock worth $42,000 after purchasing an additional 764 shares during the period. Federated Hermes Inc. grew its position in Plymouth Industrial REIT by 774.4% during the 4th quarter. Federated Hermes Inc. now owns 1,845 shares of the company’s stock worth $44,000 after purchasing an additional 1,634 shares during the last quarter. Finally, New York State Teachers Retirement System acquired a new position in Plymouth Industrial REIT in the first quarter valued at $89,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.