Truist Financial Issues Pessimistic Forecast for Plymouth Industrial REIT (NYSE:PLYM) Stock Price

Plymouth Industrial REIT (NYSE:PLYM) had its target price dropped by stock analysts at Truist Financial from $20.00 to $18.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 5.60% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. JMP Securities reiterated a “market outperform” rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Tuesday, January 14th. Wedbush set a $17.00 target price on Plymouth Industrial REIT in a report on Friday, February 28th. JPMorgan Chase & Co. decreased their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Finally, Robert W. Baird cut 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 research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.00.

Plymouth Industrial REIT Stock Down 1.7 %

PLYM opened at $17.05 on Monday. Plymouth Industrial REIT has a 12 month low of $16.06 and a 12 month high of $24.71. The company has a market cap of $776.42 million, a PE ratio of 852.25 and a beta of 1.45. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.42. The company has a 50 day moving average of $16.84 and a 200 day moving average of $18.97.

Institutional Investors Weigh In On Plymouth Industrial REIT

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP increased its holdings in shares of Plymouth Industrial REIT by 88.4% in the 3rd quarter. Quarry LP now owns 1,833 shares of the company’s stock worth $41,000 after buying an additional 860 shares during the last quarter. Loomis Sayles & Co. L P grew its position in Plymouth Industrial REIT by 3,130.6% in the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock worth $45,000 after acquiring an additional 1,941 shares in the last quarter. Point72 DIFC Ltd bought a new position in Plymouth Industrial REIT in the third quarter valued at $46,000. Quadrant Capital Group LLC increased its stake in Plymouth Industrial REIT by 38.1% in 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 last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Plymouth Industrial REIT during the third quarter valued at about $123,000. 92.67% of the stock is owned by hedge funds and other 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.