Robert W. Baird Downgrades Plymouth Industrial REIT (NYSE:PLYM) to Neutral

Plymouth Industrial REIT (NYSE:PLYM) was downgraded by equities research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $24.00 target price on the stock. Robert W. Baird’s price objective indicates a potential upside of 8.58% from the company’s current price.

Several other research analysts have also recently weighed in on PLYM. Wall Street Zen upgraded shares of Plymouth Industrial REIT from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Barclays lifted their price objective on shares of Plymouth Industrial REIT from $18.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, September 15th. Citizens Jmp downgraded shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. JMP Securities restated a “market perform” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, August 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.89.

Plymouth Industrial REIT Price Performance

NYSE:PLYM opened at $22.10 on Thursday. The firm has a market capitalization of $984.69 million, a price-to-earnings ratio of 7.67 and a beta of 1.16. Plymouth Industrial REIT has a 52-week low of $12.70 and a 52-week high of $22.65. The stock has a fifty day moving average of $21.43 and a 200 day moving average of $17.55. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.13 and a current ratio of 0.13.

Plymouth Industrial REIT (NYSE:PLYM) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. Plymouth Industrial REIT had a return on equity of 24.24% and a net margin of 67.77%.The firm had revenue of $47.20 million for the quarter, compared to analysts’ expectations of $46.20 million. On average, research analysts expect that Plymouth Industrial REIT will post 1.83 EPS for the current fiscal year.

Institutional Trading of Plymouth Industrial REIT

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its position in Plymouth Industrial REIT by 136.1% in the second quarter. Parallel Advisors LLC now owns 1,594 shares of the company’s stock valued at $26,000 after purchasing an additional 919 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Plymouth Industrial REIT by 233.0% in the third quarter. GAMMA Investing LLC now owns 1,605 shares of the company’s stock worth $36,000 after buying an additional 1,123 shares during the period. CWM LLC increased its stake in shares of Plymouth Industrial REIT by 40.5% in the third quarter. CWM LLC now owns 2,210 shares of the company’s stock worth $49,000 after buying an additional 637 shares during the period. Copeland Capital Management LLC grew its holdings in Plymouth Industrial REIT by 79.9% in the 1st quarter. Copeland Capital Management LLC now owns 3,509 shares of the company’s stock worth $57,000 after acquiring an additional 1,558 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in shares of Plymouth Industrial REIT during the first quarter worth about $60,000. 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.