Plymouth Industrial REIT (NYSE:PLYM) Given New $25.00 Price Target at Barclays

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

A number of other research analysts have also issued reports on the stock. B. Riley raised their price objective on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a report on Monday, August 5th. 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. Wedbush upped their target price on Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, Truist Financial upped their price objective 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. One equities research 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 MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $25.50.

Plymouth Industrial REIT Price Performance

Plymouth Industrial REIT stock traded up $0.03 during mid-day trading on Wednesday, reaching $23.52. The company had a trading volume of 11,843 shares, compared to its average volume of 231,069. The business has a fifty day simple moving average of $22.38 and a 200 day simple moving average of $21.75. The company has a market cap of $1.07 billion, a P/E ratio of 54.72, a P/E/G ratio of 1.77 and a beta of 1.36. 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.

Institutional Investors Weigh In On Plymouth Industrial REIT

Several hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in 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 worth $28,000 after purchasing an additional 1,107 shares during the period. Signaturefd LLC grew its position in Plymouth Industrial REIT by 40.8% during the 4th quarter. Signaturefd LLC now owns 1,731 shares of the company’s stock worth $42,000 after acquiring an additional 502 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Plymouth Industrial REIT by 77.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,751 shares of the company’s stock valued at $42,000 after purchasing an additional 764 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Plymouth Industrial REIT by 774.4% during the fourth quarter. Federated Hermes Inc. now owns 1,845 shares of the company’s stock valued at $44,000 after purchasing an additional 1,634 shares during the period. Finally, New York State Teachers Retirement System bought a new position in shares of Plymouth Industrial REIT in the first quarter worth approximately $89,000. 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.