Plymouth Industrial REIT (NYSE:PLYM) Short Interest Update

Plymouth Industrial REIT (NYSE:PLYM) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 1,894,037 shares, a growth of 28.2% from the November 30th total of 1,477,393 shares. Based on an average daily trading volume, of 1,910,305 shares, the short-interest ratio is currently 1.0 days. Currently, 4.3% of the shares of the company are short sold. Currently, 4.3% of the shares of the company are short sold. Based on an average daily trading volume, of 1,910,305 shares, the short-interest ratio is currently 1.0 days.

Plymouth Industrial REIT Price Performance

Shares of PLYM opened at $21.89 on Friday. Plymouth Industrial REIT has a 52 week low of $12.70 and a 52 week high of $22.74. The firm has a market cap of $975.20 million, a P/E ratio of 10.95 and a beta of 1.24. The firm’s 50-day simple moving average is $22.00 and its 200 day simple moving average is $19.90. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.13 and a current ratio of 0.13.

Plymouth Industrial REIT (NYSE:PLYM) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.23) 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 return on equity of 16.76% and a net margin of 47.78%. On average, analysts forecast that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Insider Activity at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, EVP James Connolly sold 59,376 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 $1,297,959.36. Following the sale, the executive vice president directly owned 120,236 shares of the company’s stock, valued at approximately $2,628,358.96. This represents a 33.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were 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 of the company’s stock, valued at $9,567,728.52. This trade represents a 25.72% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several large investors have recently bought and sold shares of PLYM. Parallel Advisors LLC raised its position in shares of Plymouth Industrial REIT by 136.1% in the 2nd quarter. Parallel Advisors LLC now owns 1,594 shares of the company’s stock worth $26,000 after acquiring an additional 919 shares in the last quarter. GAMMA Investing LLC boosted 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 worth $36,000 after buying an additional 1,123 shares in the last quarter. CWM LLC grew its position in shares of Plymouth Industrial REIT by 40.5% during 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 period. Covestor Ltd increased its stake in shares of Plymouth Industrial REIT by 1,965.3% in the 3rd quarter. Covestor Ltd now owns 2,499 shares of the company’s stock valued at $55,000 after acquiring an additional 2,378 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Plymouth Industrial REIT by 65.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,834 shares of the company’s stock valued at $62,000 after acquiring an additional 1,514 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PLYM shares. Colliers Securities lowered Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a report on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, October 8th. Industrial Alliance Securities set a $22.00 target price 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 lifted their price target for the company from $19.00 to $24.00 in a research note on Thursday, October 23rd. Finally, BMO Capital Markets lowered their price objective on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Plymouth Industrial REIT presently has a consensus rating of “Hold” and an average target price of $21.40.

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.