194,699 Shares in Plymouth Industrial REIT $PLYM Purchased by Alpine Associates Management Inc.

Alpine Associates Management Inc. purchased a new position in Plymouth Industrial REIT (NYSE:PLYM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 194,699 shares of the company’s stock, valued at approximately $4,348,000. Alpine Associates Management Inc. owned about 0.44% of Plymouth Industrial REIT as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Tokio Marine Asset Management Co. Ltd. bought a new position in Plymouth Industrial REIT in the third quarter valued at about $2,626,000. Peregrine Capital Management LLC boosted its position in shares of Plymouth Industrial REIT by 10.6% during the second quarter. Peregrine Capital Management LLC now owns 352,648 shares of the company’s stock worth $5,664,000 after acquiring an additional 33,668 shares during the last quarter. Jennison Associates LLC boosted its stake in Plymouth Industrial REIT by 3.0% during the second quarter. Jennison Associates LLC now owns 3,645,335 shares of the company’s stock valued at $58,544,000 after buying an additional 104,526 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Plymouth Industrial REIT by 103.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 45,387 shares of the company’s stock worth $729,000 after buying an additional 23,113 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Plymouth Industrial REIT by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,079,383 shares of the company’s stock valued at $17,335,000 after purchasing an additional 12,842 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Insider Activity at Plymouth Industrial REIT

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on PLYM shares. iA Financial set a $22.00 price objective on Plymouth Industrial REIT in a report on Monday, October 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Plymouth Industrial REIT in a research report on Thursday, January 22nd. Colliers Securities downgraded shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a report on Monday, October 27th. Barclays lowered 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 report on Monday, October 27th. Finally, Robert W. Baird cut shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $19.00 to $24.00 in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Plymouth Industrial REIT has a consensus rating of “Hold” and a consensus target price of $21.00.

Plymouth Industrial REIT Stock Up 0.1%

PLYM stock opened at $22.00 on Friday. The firm has a 50-day moving average of $21.92 and a two-hundred day moving average of $21.13. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.31. The company has a market cap of $979.88 million, a price-to-earnings ratio of 11.00 and a beta of 1.24. Plymouth Industrial REIT has a 12 month low of $12.70 and a 12 month high of $22.74.

Plymouth Industrial REIT (NYSE:PLYM) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($1.70). The firm had revenue of $51.16 million during 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%. As a group, analysts forecast that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal 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.