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

Alpine Associates Management Inc. purchased a new stake in Plymouth Industrial REIT (NYSE:PLYM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 194,699 shares of the company’s stock, valued at approximately $4,348,000.

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE boosted its position in shares of Plymouth Industrial REIT by 106.5% during the 2nd quarter. Bank of America Corp DE now owns 302,887 shares of the company’s stock worth $4,864,000 after acquiring an additional 156,225 shares in the last quarter. Gabelli Funds LLC purchased a new stake in Plymouth Industrial REIT during the second quarter worth approximately $2,224,000. Arrowstreet Capital Limited Partnership boosted its holdings in Plymouth Industrial REIT by 71.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 314,566 shares of the company’s stock valued at $5,052,000 after purchasing an additional 130,663 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. purchased a new position in Plymouth Industrial REIT in the third quarter valued at approximately $2,626,000. Finally, Sei Investments Co. raised its holdings in Plymouth Industrial REIT by 169.9% during the second quarter. Sei Investments Co. now owns 174,347 shares of the company’s stock worth $2,800,000 after purchasing an additional 109,744 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Plymouth Industrial REIT news, EVP James Connolly sold 59,376 shares of Plymouth Industrial REIT stock in a transaction dated 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 in the company, valued at approximately $2,628,358.96. The trade was a 33.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey E. Witherell sold 151,583 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were 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 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 SEC filing for this sale provides additional information. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

PLYM has been the subject of several research analyst reports. BMO Capital Markets lowered their target price on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating for the company in a report on Monday, October 27th. Colliers Securities lowered 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. Robert W. Baird downgraded Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $19.00 to $24.00 in a report on Thursday, October 23rd. iA Financial set a $22.00 target price on Plymouth Industrial REIT in a research report on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Plymouth Industrial REIT in a research note on Thursday, January 22nd. 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.com, the company has a consensus rating of “Hold” and an average target price of $21.00.

Plymouth Industrial REIT Stock Up 0.1%

Shares of NYSE PLYM opened at $22.00 on Friday. The firm has a 50-day moving average price of $21.92 and a 200 day moving average price of $21.13. 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 stock has a market capitalization of $979.88 million, a price-to-earnings ratio of 11.00 and a beta of 1.24. Plymouth Industrial REIT has a 52 week low of $12.70 and a 52 week high of $22.74.

Plymouth Industrial REIT (NYSE:PLYM) last announced its quarterly earnings results on Monday, November 10th. The company reported ($1.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($1.70). Plymouth Industrial REIT had a net margin of 47.78% and a return on equity of 16.76%. The firm had revenue of $51.16 million during the quarter, compared to analysts’ expectations of $49.62 million. Equities research analysts anticipate that Plymouth Industrial REIT will post 1.83 EPS 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.