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

Plymouth Industrial REIT (NYSE:PLYM) had its price target lowered by analysts at Truist Financial from $20.00 to $18.00 in a report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price would suggest a potential upside of 7.21% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of Plymouth Industrial REIT from $20.00 to $19.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a report on Tuesday, January 14th. Robert W. Baird cut their price target on Plymouth Industrial REIT from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Finally, Wedbush set a $17.00 price objective on Plymouth Industrial REIT in a research report on Friday, February 28th. One 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.00.

Plymouth Industrial REIT Stock Down 1.8 %

NYSE PLYM opened at $16.79 on Monday. Plymouth Industrial REIT has a 52 week low of $16.06 and a 52 week high of $24.71. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $764.80 million, a P/E ratio of 839.50 and a beta of 1.45. The stock’s 50-day moving average price is $16.84 and its 200-day moving average price is $18.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP raised its stake in Plymouth Industrial REIT by 88.4% during the third quarter. Quarry LP now owns 1,833 shares of the company’s stock valued at $41,000 after purchasing an additional 860 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of Plymouth Industrial REIT by 3,130.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after buying an additional 1,941 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Plymouth Industrial REIT in the 3rd quarter valued at about $46,000. Quadrant Capital Group LLC grew its position 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 worth $54,000 after acquiring an additional 844 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Plymouth Industrial REIT during the third quarter worth approximately $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.