Robert W. Baird Issues Pessimistic Forecast for Plymouth Industrial REIT (NYSE:PLYM) Stock Price

Plymouth Industrial REIT (NYSE:PLYM) had its price objective lowered by equities research analysts at Robert W. Baird from $21.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 15.44% from the stock’s current price.

A number of other research firms also recently issued reports on PLYM. JPMorgan Chase & Co. reduced their price target on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Truist Financial cut shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. BNP Paribas lowered shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a report on Friday, November 8th. Barclays reduced their target price on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Finally, JMP Securities reiterated a “market outperform” rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Plymouth Industrial REIT presently has an average rating of “Hold” and an average target price of $23.33.

Plymouth Industrial REIT Stock Performance

Shares of PLYM stock opened at $17.33 on Wednesday. The stock has a 50 day simple moving average of $16.94 and a 200-day simple moving average of $19.60. The company has a market cap of $786.36 million, a price-to-earnings ratio of 866.25 and a beta of 1.33. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. Plymouth Industrial REIT has a 12-month low of $16.06 and a 12-month high of $24.71.

Institutional Investors Weigh In On Plymouth Industrial REIT

A number of institutional investors have recently made changes to their positions in PLYM. Quarry LP lifted its holdings in Plymouth Industrial REIT by 88.4% in the third quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after acquiring an additional 860 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Plymouth Industrial REIT by 3,130.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock worth $45,000 after purchasing an additional 1,941 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Plymouth Industrial REIT during the 3rd quarter valued at approximately $46,000. Quadrant Capital Group LLC boosted its holdings in shares of Plymouth Industrial REIT by 38.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,060 shares of the company’s stock valued at $54,000 after acquiring an additional 844 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in Plymouth Industrial REIT during the 3rd quarter valued at $123,000. 92.67% of the stock is currently 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.