Wedbush Boosts Plymouth Industrial REIT (NYSE:PLYM) Price Target to $25.00

Plymouth Industrial REIT (NYSE:PLYM) had its price target hoisted by equities researchers at Wedbush from $23.00 to $25.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Wedbush’s price objective suggests a potential upside of 8.18% from the stock’s current price.

A number of other brokerages have also recently commented on PLYM. JPMorgan Chase & Co. decreased their price objective on Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. B. Riley increased their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.67.

Plymouth Industrial REIT Trading Down 3.1 %

NYSE PLYM traded down $0.75 during trading hours on Monday, hitting $23.11. The company’s stock had a trading volume of 161,862 shares, compared to its average volume of 233,533. Plymouth Industrial REIT has a twelve month low of $19.21 and a twelve month high of $25.55. The firm has a market capitalization of $1.05 billion, a P/E ratio of 53.79, a PEG ratio of 1.81 and a beta of 1.36. The company has a quick ratio of 0.12, a current ratio of 0.16 and a debt-to-equity ratio of 1.49. The stock has a fifty day moving average of $22.00 and a 200 day moving average of $21.72.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PLYM. Vanguard Group Inc. lifted its stake in Plymouth Industrial REIT by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 4,148,814 shares of the company’s stock worth $99,862,000 after purchasing an additional 83,192 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its position in shares of Plymouth Industrial REIT by 94.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 192,243 shares of the company’s stock worth $4,627,000 after purchasing an additional 93,434 shares during the period. Jennison Associates LLC boosted its position in Plymouth Industrial REIT by 5.9% during the first quarter. Jennison Associates LLC now owns 4,183,540 shares of the company’s stock valued at $94,130,000 after acquiring an additional 234,536 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Plymouth Industrial REIT by 19.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 562,177 shares of the company’s stock worth $13,532,000 after purchasing an additional 90,645 shares during the period. Finally, Strs Ohio increased its stake in shares of Plymouth Industrial REIT by 60.1% in the 4th quarter. Strs Ohio now owns 127,004 shares of the company’s stock valued at $3,056,000 after acquiring an additional 47,700 shares in the last quarter. Institutional investors and hedge funds 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.