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

Peregrine Capital Management LLC cut its holdings in shares of Plymouth Industrial REIT (NYSE:PLYM) by 91.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,240 shares of the company’s stock after selling 323,408 shares during the period. Peregrine Capital Management LLC’s holdings in Plymouth Industrial REIT were worth $653,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in Plymouth Industrial REIT by 3.0% during the 2nd quarter. Jennison Associates LLC now owns 3,645,335 shares of the company’s stock valued at $58,544,000 after purchasing an additional 104,526 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Plymouth Industrial REIT by 1.2% in the second quarter. Geode Capital Management LLC now owns 1,079,383 shares of the company’s stock valued at $17,335,000 after purchasing an additional 12,842 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Plymouth Industrial REIT by 1.9% during the second quarter. JPMorgan Chase & Co. now owns 900,430 shares of the company’s stock valued at $14,461,000 after buying an additional 16,947 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Plymouth Industrial REIT by 8.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 756,124 shares of the company’s stock valued at $12,143,000 after buying an additional 56,124 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Plymouth Industrial REIT by 1.9% during the second quarter. Ameriprise Financial Inc. now owns 545,551 shares of the company’s stock worth $8,762,000 after buying an additional 10,237 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In related 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 value of $1,297,959.36. Following the transaction, the executive vice president owned 120,236 shares in the company, valued at approximately $2,628,358.96. This represents a 33.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey E. Witherell sold 151,583 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $21.86, for a total value of $3,313,604.38. Following the transaction, the chief executive officer directly owned 437,682 shares of the company’s stock, valued at approximately $9,567,728.52. This trade 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 owned by corporate insiders.

Plymouth Industrial REIT Trading Up 0.0%

NYSE PLYM opened at $21.94 on Friday. The business’s fifty day moving average is $22.00 and its 200-day moving average is $20.16. 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 stock has a market capitalization of $977.20 million, a price-to-earnings ratio of 10.97 and a beta of 1.24. 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 posted its quarterly earnings results 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). Plymouth Industrial REIT had a net margin of 47.78% and a return on equity of 16.76%. The company had revenue of $51.16 million for the quarter, compared to the consensus estimate of $49.62 million. Equities research analysts predict that Plymouth Industrial REIT will post 1.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. BMO Capital Markets dropped their price objective on Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating on the stock in a research note on Monday, October 27th. Industrial Alliance Securities set a $22.00 target price on shares of Plymouth Industrial REIT in a report on Monday, October 27th. Colliers Securities cut shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a report on Monday, October 27th. Barclays reduced their price objective on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, October 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Plymouth Industrial REIT in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Plymouth Industrial REIT has a consensus rating of “Hold” and a consensus target price of $21.40.

About Plymouth Industrial REIT

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.