Peregrine Capital Management LLC Has $653,000 Stake in Plymouth Industrial REIT $PLYM

Peregrine Capital Management LLC cut its stake in shares of Plymouth Industrial REIT (NYSE:PLYM) by 91.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,240 shares of the company’s stock after selling 323,408 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.07% of Plymouth Industrial REIT worth $653,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Parallel Advisors LLC raised its position in shares of Plymouth Industrial REIT by 136.1% during the second quarter. Parallel Advisors LLC now owns 1,594 shares of the company’s stock worth $26,000 after acquiring an additional 919 shares during the last quarter. GAMMA Investing LLC increased its position in 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 purchasing an additional 1,123 shares during the period. CWM LLC increased its position in Plymouth Industrial REIT by 40.5% during the 3rd quarter. CWM LLC now owns 2,210 shares of the company’s stock valued at $49,000 after purchasing an additional 637 shares during the period. BNP Paribas Financial Markets raised its holdings in Plymouth Industrial REIT by 65.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,834 shares of the company’s stock worth $62,000 after purchasing an additional 1,514 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Plymouth Industrial REIT by 244.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,228 shares of the company’s stock worth $68,000 after purchasing an additional 2,999 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Up 0.0%

Shares of NYSE PLYM opened at $21.94 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.31. The firm has a market cap of $977.20 million, a PE ratio of 10.97 and a beta of 1.24. The company’s fifty day simple moving average is $22.00 and its 200 day simple moving average is $20.16. 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 for the quarter, missing the consensus estimate of $0.47 by ($1.70). The company had revenue of $51.16 million for the quarter, compared to analyst estimates 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, sell-side analysts forecast that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Insider Buying and Selling

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 transaction, the executive vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey E. Witherell sold 151,583 shares of the 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 completion of the transaction, the chief executive officer owned 437,682 shares in the company, valued at approximately $9,567,728.52. This represents a 25.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PLYM shares. Baird R W cut shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. BMO Capital Markets dropped their target price on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating on the stock in a report on Monday, October 27th. Robert W. Baird downgraded 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 report on Thursday, October 23rd. Colliers Securities lowered Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research report on Monday, October 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Plymouth Industrial REIT in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $21.40.

Plymouth Industrial REIT 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.