BMO Capital analyst John Kim lowered the firm’s price target on Plymouth Industrial REIT (PLYM) to $22 from $24 and keeps a Market Perform rating on the shares. The firm cites the company having entered into a definitive merger agreement with Makarora Management, along with Ares, to acquire Plymounth’s outstanding shares for $22.00 per share in cash, adding however that it is unclear why Sixth Street lowered or withdrew its offer, the analyst tells investors in a research note.
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Read More on PLYM:
- Plymouth Industrial Reit Merger Agreement: Hold Rating Amid Valuation Uncertainty and Dividend Policy Changes
- Plymouth Industrial REIT Announces $2.1 Billion Acquisition
- Plymouth Industrial REIT to be acquired by Makarora for $22 per share, or $2.1B
- Plymouth Industrial REIT downgraded to Neutral from Outperform at Baird
- Hold Rating on Plymouth Industrial Reit Amid Market Uncertainty and Strategic Evaluation