James Connolly Sells 59,376 Shares of Plymouth Industrial REIT (NYSE:PLYM) Stock

Plymouth Industrial REIT (NYSE:PLYM) EVP James Connolly sold 59,376 shares of Plymouth Industrial REIT stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $21.86, for a total transaction of $1,297,959.36. Following the completion of the transaction, the executive vice president directly owned 120,236 shares of the company’s stock, valued at $2,628,358.96. This trade represents a 33.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Plymouth Industrial REIT Stock Down 0.1%

Shares of PLYM stock traded down $0.02 during mid-day trading on Monday, hitting $21.87. The company’s stock had a trading volume of 848,373 shares, compared to its average volume of 742,954. The stock has a market cap of $974.11 million, a price-to-earnings ratio of 10.93 and a beta of 1.26. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.13 and a current ratio of 0.13. Plymouth Industrial REIT has a 52-week low of $12.70 and a 52-week high of $22.74. The business has a 50-day moving average price of $22.01 and a 200 day moving average price of $19.61.

Plymouth Industrial REIT (NYSE:PLYM) last announced its earnings results on Monday, November 10th. The company reported ($1.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($1.70). The company had revenue of $51.16 million for the quarter, compared to analysts’ expectations of $49.62 million. Plymouth Industrial REIT had a net margin of 47.78% and a return on equity of 16.76%. Research analysts predict that Plymouth Industrial REIT will post 1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several large investors have recently modified their holdings of PLYM. CWM LLC boosted its stake in shares of Plymouth Industrial REIT by 40.5% during the 3rd quarter. CWM LLC now owns 2,210 shares of the company’s stock worth $49,000 after purchasing an additional 637 shares during the period. Parallel Advisors LLC lifted its stake in Plymouth Industrial REIT by 136.1% in the second quarter. Parallel Advisors LLC now owns 1,594 shares of the company’s stock worth $26,000 after purchasing an additional 919 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Plymouth Industrial REIT by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,804 shares of the company’s stock valued at $388,000 after buying an additional 982 shares during the period. GeoWealth Management LLC boosted its position in shares of Plymouth Industrial REIT by 9.1% during the third quarter. GeoWealth Management LLC now owns 12,202 shares of the company’s stock valued at $272,000 after buying an additional 1,013 shares during the period. Finally, D.A. Davidson & CO. grew its stake in shares of Plymouth Industrial REIT by 1.8% during the second quarter. D.A. Davidson & CO. now owns 59,937 shares of the company’s stock valued at $963,000 after buying an additional 1,032 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

PLYM has been the subject of a number of analyst reports. BMO Capital Markets reduced their price objective on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating for the company in a research note on Monday, October 27th. Robert W. Baird lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $19.00 to $24.00 in a research note on Thursday, October 23rd. Baird R W cut Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. Barclays lowered their price objective on Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, October 27th. Finally, Colliers Securities cut Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a research report on Monday, October 27th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.40.

Plymouth Industrial REIT Company Profile

Plymouth Industrial REIT, Inc (NYSE: PLYM) is a real estate investment trust specializing in the acquisition, ownership and management of industrial properties across the United States. The company targets bulk distribution warehouses, last-mile fulfillment centers and light manufacturing facilities that serve leading logistics, e-commerce and manufacturing tenants. Plymouth Industrial REIT focuses on assets located in established industrial markets with strong demand drivers, including proximity to major transportation corridors, ports and population centers.

The firm’s portfolio strategy emphasizes geographic diversification and properties with high barriers to entry.