Key Points
- EVP James Connolly sold 59,376 shares at an average price of $21.86 for proceeds of $1,297,959.36, cutting his stake by 33.06% to 120,236 shares valued at $2,628,358.96.
- Plymouth reported a quarterly EPS miss, posting -$1.23 versus consensus $0.47 (a $1.70 shortfall) while revenue of $51.16 million slightly beat estimates and the company showed a 47.78% net margin and 16.76% ROE.
- The stock carries a consensus "Hold" rating with a $21.40 price target, a market cap of about $974 million and a one-year range of $12.70–$22.74, with institutional investors owning 92.67% of shares.
Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) EVP James Connolly sold 59,376 shares of Plymouth Industrial REIT stock in a transaction that occurred on Friday, December 19th. The shares were 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 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Plymouth Industrial REIT Trading Down 0.1%
NYSE:PLYM opened at $21.87 on Tuesday. Plymouth Industrial REIT has a 1 year low of $12.70 and a 1 year high of $22.74. The stock's fifty day moving average price is $22.02 and its two-hundred day moving average price is $19.65. 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 company has a market cap of $974.09 million, a P/E ratio of 10.93 and a beta of 1.26.
Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last released 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 company had revenue of $51.16 million for the quarter, compared to the consensus estimate 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 expect that Plymouth Industrial REIT will post 1.83 EPS for the current year.
Institutional Trading of Plymouth Industrial REIT
A number of hedge funds have recently made changes to their positions in PLYM. Parallel Advisors LLC increased 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 valued at $26,000 after acquiring an additional 919 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 buying an additional 1,123 shares in the last quarter. CWM LLC lifted its position in 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 lifted its position in Plymouth Industrial REIT by 1,965.3% in the 3rd quarter. Covestor Ltd now owns 2,499 shares of the company's stock worth $55,000 after buying an additional 2,378 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Plymouth Industrial REIT by 65.3% in the second quarter. BNP Paribas Financial Markets now owns 3,834 shares of the company's stock worth $62,000 after buying an additional 1,514 shares in the last quarter. 92.67% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Plymouth Industrial REIT in a research note on Wednesday, October 8th. Industrial Alliance Securities set a $22.00 price target on shares of Plymouth Industrial REIT in a report on Monday, October 27th. Robert W. Baird lowered shares of Plymouth Industrial REIT from an "outperform" rating to a "neutral" rating and boosted their price target for the company from $19.00 to $24.00 in a research report on Thursday, October 23rd. Baird R W downgraded Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 23rd. 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 equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Plymouth Industrial REIT has a consensus rating of "Hold" and a consensus price target of $21.40.
Read Our Latest Report on PLYM
About Plymouth Industrial REIT
(
Get Free Report)
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.
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