Plymouth Industrial REIT price target lowered to $17 from $19 at Wedbush

Wedbush lowered the firm’s price target on Plymouth Industrial REIT (PLYM) to $17 from $19 and keeps a Neutral rating on the shares. The company has some leasing work to do in Cleveland and Cincinnati but both appear to represent nice upside if things don’t linger too long, the firm says. Guidance assumes 380bps of occupancy lift in 2025. Wedbush thinks the market continues to process the Sixth Street JV, although not lost on the firm is $500M of redeployment that will likely be mostly completed during 2025.