Plymouth Industrial REIT (NYSE: PLYM) upgraded by Zacks Investment Research to “buy”

Plymouth Industrial REIT (NYSE: PLYM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report released Saturday to clients and investors, Zacks.com reports. The company currently has a target price of $ 35.00 on the stock. Zacks Investment Research’s price target points to a potential 9.38% increase from the company’s previous close.

According to Zacks, “Plymouth Industrial REIT, Inc. is a full-service, vertically integrated real estate investment company. It focuses on the acquisition and management of single-tenant and multi-tenant distribution centers, warehouses and light industrial properties, primarily located in certain primary markets. Plymouth Industrial REIT, Inc. is headquartered in Boston, USA. “

A number of other research companies have also recently weighed in on PLYM. B. Riley reaffirmed a “buy” note on Plymouth Industrial REIT shares in a research report on Tuesday, September 28. Wedbush raised its price target on Plymouth Industrial REIT from $ 25 to $ 30.00 and gave the company an “outperformance” rating in a research report published on Monday, November 8. Five research analysts rated the stock with a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $ 26.75.

PLYM shares opened at $ 32.00 on Friday. The company has a debt to equity ratio of 1.81, a quick ratio of 1.29, and a current ratio of 1.29. Plymouth Industrial REIT has a 52 week low of $ 13.96 and a 52 week high of $ 32.37. The company has a market cap of $ 1.11 billion, a PE ratio of -33.68, a price / earnings-growth ratio of 2.49, and a beta of 1.21. The company’s fifty-day moving average is $ 29.01 and its 200-day moving average is $ 24.69.

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Plymouth Industrial REIT (NYSE: PLYM) last released its quarterly earnings data on Friday, November 5. The company reported ($ 0.22) earnings per share (EPS) for the quarter, missing Zacks’ consensus estimate of ($ 0.16) from ($ 0.06). Plymouth Industrial REIT recorded a negative return on equity of 5.00% and a negative net margin of 9.87%. During the same period of the previous year, the company posted earnings per share of $ 0.42. On average, analysts on the seller’s side predict that Plymouth Industrial REIT will post 1.73 EPS for the current fiscal year.

Several large investors have recently changed their positions in the company. Arkadios Wealth Advisors purchased a new stake in Plymouth Industrial REIT shares in the third quarter for a value of approximately $ 34,000. Lazard Asset Management LLC purchased a new stake in Plymouth Industrial REIT shares in the second quarter valued at approximately $ 38,000. Bbva USA purchased a new stake in Plymouth Industrial REIT shares in the second quarter valued at approximately $ 59,000. Koshinski Asset Management Inc. purchased a new stake in Plymouth Industrial REIT shares in the third quarter valued at approximately $ 68,000. Finally, BNP Paribas Arbitrage SA increased its stake in Plymouth Industrial REIT shares by 22.1% in the second quarter. BNP Paribas Arbitrage SA now owns 3,857 shares of the company valued at $ 77,000 after purchasing an additional 698 shares during the last quarter. 84.36% of the shares are currently held by hedge funds and other institutional investors.

Plymouth Industrial REIT Company Profile

Plymouth Industrial REIT, Inc engages in the acquisition, ownership and management of single and multiple tenant distribution centers, warehouses and light industrial properties. It seeks to acquire properties that generate income and growth, and to increase shareholder value through active asset management, prudent repositioning of properties and disciplined deployment of capital.

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