Plymouth Industrial REIT $PLYM Holdings Cut by D.A. Davidson & CO.

D.A. Davidson & CO. reduced its stake in shares of Plymouth Industrial REIT (NYSE:PLYM) by 46.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,801 shares of the company’s stock after selling 28,136 shares during the period. D.A. Davidson & CO. owned 0.07% of Plymouth Industrial REIT worth $710,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 purchasing an additional 982 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Plymouth Industrial REIT during the 1st quarter worth about $460,000. Focus Partners Wealth grew its stake in shares of Plymouth Industrial REIT by 213.1% in the 1st quarter. Focus Partners Wealth now owns 55,075 shares of the company’s stock valued at $898,000 after buying an additional 37,484 shares in the last quarter. Strs Ohio bought a new stake in shares of Plymouth Industrial REIT in the 1st quarter valued at approximately $6,652,000. Finally, Parallel Advisors LLC increased its holdings 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 buying an additional 919 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Plymouth Industrial REIT

In other news, EVP James Connolly sold 59,376 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $2,628,358.96. The trade was a 33.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the chief executive officer owned 437,682 shares in the company, valued at approximately $9,567,728.52. The trade was a 25.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PLYM. Colliers Securities cut 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 research note on Monday, October 27th. 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. Baird R W downgraded shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, October 8th. Finally, Barclays decreased their price target on Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.40.

Plymouth Industrial REIT Stock Up 0.0%

Plymouth Industrial REIT stock opened at $21.94 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.13 and a quick ratio of 0.13. Plymouth Industrial REIT has a fifty-two week low of $12.70 and a fifty-two week high of $22.74. The firm has a fifty day moving average price of $22.00 and a two-hundred day moving average price of $20.22. The firm has a market cap of $977.20 million, a price-to-earnings ratio of 10.97 and a beta of 1.24.

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

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.