Plymouth Industrial REIT $PLYM Shares Sold by Meixler Investment Management Ltd.

Meixler Investment Management Ltd. trimmed its position in Plymouth Industrial REIT (NYSE:PLYM) by 82.1% in the third quarter, Holdings Channel.com reports. The fund owned 11,265 shares of the company’s stock after selling 51,636 shares during the period. Meixler Investment Management Ltd.’s holdings in Plymouth Industrial REIT were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its stake in Plymouth Industrial REIT by 81.7% during the third quarter. Allianz Asset Management GmbH now owns 42,532 shares of the company’s stock valued at $950,000 after purchasing an additional 19,126 shares during the last quarter. AlphaQuest LLC boosted its holdings in shares of Plymouth Industrial REIT by 85.0% in the 3rd quarter. AlphaQuest LLC now owns 8,668 shares of the company’s stock valued at $194,000 after buying an additional 3,983 shares during the period. Resona Asset Management Co. Ltd. boosted its stake in Plymouth Industrial REIT by 24.2% in the third quarter. Resona Asset Management Co. Ltd. now owns 19,657 shares of the company’s stock valued at $436,000 after acquiring an additional 3,833 shares during the period. Strs Ohio boosted its position in Plymouth Industrial REIT by 2.3% during the 3rd quarter. Strs Ohio now owns 438,104 shares of the company’s stock valued at $9,783,000 after purchasing an additional 9,700 shares during the period. Finally, Covestor Ltd grew its stake in Plymouth Industrial REIT by 1,965.3% during 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. 92.67% of the stock is currently owned by institutional investors.

Plymouth Industrial REIT Stock Up 0.1%

PLYM opened at $22.00 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $979.88 million, a PE ratio of 11.00 and a beta of 1.24. The stock’s fifty day moving average is $21.92 and its 200-day moving average is $21.03. Plymouth Industrial REIT has a one year low of $12.70 and a one year high of $22.74.

Plymouth Industrial REIT (NYSE:PLYM) last released its earnings results 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). Plymouth Industrial REIT had a return on equity of 16.76% and a net margin of 47.78%.The firm had revenue of $51.16 million for the quarter, compared to analyst estimates of $49.62 million. On average, equities analysts predict that Plymouth Industrial REIT will post 1.83 EPS for the current fiscal year.

Insider Activity at Plymouth Industrial REIT

In related news, EVP James Connolly sold 59,376 shares of the business’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 sale, 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 position. The transaction 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 Plymouth Industrial REIT 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 $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 trade represents 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 Upgrades and Downgrades

A number of research firms have issued reports on PLYM. iA Financial set a $22.00 target price on Plymouth Industrial REIT in a research note on Monday, October 27th. BMO Capital Markets cut their price objective on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating on the stock in a research report on Monday, October 27th. Weiss Ratings restated a “hold (c)” rating on shares of Plymouth Industrial REIT in a research report on Thursday, January 22nd. Barclays cut their price target on Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, October 27th. Finally, Colliers Securities downgraded 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. One research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $21.00.

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.