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Plymouth Industrial downgraded to Market Perform at Citizens JMP

Citizens JMP downgraded Plymouth Industrial REIT (PLYM) to Market Perform from Outperform without a price target after Sixth Street Partners made a fully financed proposal to acquire the company for $24.10 per share. The firm views the proposal as “too compelling to pass up” and does not anticipate any additional bids to emerge, suggesting limited upside from current share levels.

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