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

Plymouth Industrial REIT (NYSE:PLYM) had its price objective reduced by stock analysts at Truist Financial from $20.00 to $18.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target suggests a potential upside of 5.60% from the company’s current price.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. decreased their price objective on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Robert W. Baird lowered their price objective on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Wedbush set a $17.00 price objective on Plymouth Industrial REIT in a research note on Friday, February 28th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. One 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.00.

Plymouth Industrial REIT Price Performance

Shares of NYSE:PLYM opened at $17.05 on Monday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The stock has a market cap of $776.42 million, a PE ratio of 852.25 and a beta of 1.45. The company’s fifty day moving average is $16.84 and its 200 day moving average is $18.97. Plymouth Industrial REIT has a 52 week low of $16.06 and a 52 week high of $24.71.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PLYM. Quarry LP lifted its position 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 worth $41,000 after purchasing an additional 860 shares during the period. Loomis Sayles & Co. L P raised its stake in Plymouth Industrial REIT by 3,130.6% in the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock worth $45,000 after buying an additional 1,941 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Plymouth Industrial REIT in the third quarter worth about $46,000. Quadrant Capital Group LLC lifted its holdings in Plymouth Industrial REIT by 38.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock worth $54,000 after buying an additional 844 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Plymouth Industrial REIT during the 3rd quarter worth approximately $123,000. 92.67% of the stock is 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.