Alberta Investment Management Corp Acquires Shares of 276,379 Plymouth Industrial REIT $PLYM

Alberta Investment Management Corp bought a new position in Plymouth Industrial REIT (NYSE:PLYM) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 276,379 shares of the company’s stock, valued at approximately $6,172,000. Alberta Investment Management Corp owned about 0.62% of Plymouth Industrial REIT at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PLYM. GAMMA Investing LLC boosted its position in shares of Plymouth Industrial REIT by 233.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,605 shares of the company’s stock valued at $36,000 after acquiring an additional 1,123 shares during the last quarter. CWM LLC increased its holdings in shares of Plymouth Industrial REIT by 40.5% in the 3rd quarter. CWM LLC now owns 2,210 shares of the company’s stock worth $49,000 after buying an additional 637 shares during the last quarter. Covestor Ltd raised its position in shares of Plymouth Industrial REIT by 1,965.3% during the 3rd quarter. Covestor Ltd now owns 2,499 shares of the company’s stock valued at $55,000 after buying an additional 2,378 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Plymouth Industrial REIT by 65.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,834 shares of the company’s stock valued at $62,000 after acquiring an additional 1,514 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Plymouth Industrial REIT by 244.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,228 shares of the company’s stock valued at $68,000 after acquiring an additional 2,999 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, CEO Jeffrey E. Witherell sold 151,583 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $21.86, for a total transaction of $3,313,604.38. Following the transaction, the chief executive officer directly owned 437,682 shares in the company, valued at $9,567,728.52. This trade represents a 25.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James Connolly sold 59,376 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $21.86, for a total value of $1,297,959.36. Following the completion of the sale, the executive vice president owned 120,236 shares of the company’s stock, valued at $2,628,358.96. This represents a 33.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.60% of the stock is owned by corporate insiders.

Plymouth Industrial REIT Price Performance

Plymouth Industrial REIT stock opened at $22.00 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market cap of $979.88 million, a price-to-earnings ratio of 11.00 and a beta of 1.24. The firm has a 50-day moving average of $21.93 and a two-hundred day moving average of $21.38. Plymouth Industrial REIT has a 1 year low of $12.70 and a 1 year high of $22.74.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PLYM shares. Robert W. Baird downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $19.00 to $24.00 in a research report on Thursday, October 23rd. Barclays decreased their price target on Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, October 27th. BMO Capital Markets lowered their price target on Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating for the company in a research report on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Plymouth Industrial REIT in a research report on Thursday, January 22nd. Finally, Colliers Securities lowered shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a report on Monday, October 27th. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Plymouth Industrial REIT presently has a consensus rating of “Hold” and a consensus target price of $21.00.

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.