Plymouth Industrial REIT (NYSE:PLYM) Given New $18.00 Price Target at Truist Financial

Plymouth Industrial REIT (NYSE:PLYM) had its price objective cut by analysts at Truist Financial from $20.00 to $18.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 7.21% from the stock’s current price.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. cut their target price 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. JMP Securities reiterated 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. Wedbush set a $17.00 price target on shares of Plymouth Industrial REIT in a report on Friday, February 28th. Finally, Robert W. Baird decreased 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 report on Wednesday, March 5th. 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’s stock. According to MarketBeat, Plymouth Industrial REIT has an average rating of “Hold” and an average target price of $22.00.

Plymouth Industrial REIT Price Performance

PLYM stock opened at $16.79 on Monday. The stock has a market cap of $764.80 million, a PE ratio of 839.50 and a beta of 1.45. Plymouth Industrial REIT has a 12 month low of $16.06 and a 12 month high of $24.71. The company has a 50-day moving average price of $16.84 and a 200 day moving average price of $18.88. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42.

Institutional Investors Weigh In On Plymouth Industrial REIT

Several large investors have recently modified their holdings of the business. Westwood Holdings Group Inc. raised its stake in Plymouth Industrial REIT by 33.0% in the fourth 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 in the last quarter. Mesirow Institutional Investment Management Inc. purchased a new position in shares of Plymouth Industrial REIT in the 4th quarter valued at $10,433,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Plymouth Industrial REIT during the 4th quarter worth $9,612,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Plymouth Industrial REIT during the 4th quarter worth $7,443,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Plymouth Industrial REIT by 24.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock valued at $20,583,000 after purchasing an additional 180,003 shares in the last quarter. 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.