Voya Investment Management LLC Has $2.09 Million Stock Holdings in Plymouth Industrial REIT $PLYM

Voya Investment Management LLC reduced its position in Plymouth Industrial REIT (NYSE:PLYM) by 27.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 93,583 shares of the company’s stock after selling 36,175 shares during the period. Voya Investment Management LLC’s holdings in Plymouth Industrial REIT were worth $2,090,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake 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 valued at $26,000 after acquiring an additional 919 shares during the period. GAMMA Investing LLC increased its position in Plymouth Industrial REIT by 233.0% in the third quarter. GAMMA Investing LLC now owns 1,605 shares of the company’s stock worth $36,000 after purchasing an additional 1,123 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. Tower Research Capital LLC TRC lifted its position 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 valued at $68,000 after purchasing an additional 2,999 shares during the period. Finally, State of Tennessee Department of Treasury bought a new position in shares of Plymouth Industrial REIT in the 2nd quarter valued at about $77,000. Institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Stock Down 0.1%

NYSE:PLYM opened at $21.89 on Monday. The stock has a market cap of $974.98 million, a price-to-earnings ratio of 10.94 and a beta of 1.26. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.31. The stock has a 50-day moving average price of $22.02 and a two-hundred day moving average price of $19.80. Plymouth Industrial REIT has a 1 year low of $12.70 and a 1 year high of $22.74.

Plymouth Industrial REIT (NYSE:PLYM) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.23) earnings per share (EPS) 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 business had revenue of $51.16 million during the quarter, compared to analyst estimates of $49.62 million. As a group, equities analysts expect that Plymouth Industrial REIT will post 1.83 earnings per share for the current 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 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 of the company’s stock, valued at approximately $2,628,358.96. The trade was a 33.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey E. Witherell sold 151,583 shares of the stock in a transaction dated 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 transaction, the chief executive officer 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 position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PLYM has been the subject of a number of recent research reports. BMO Capital Markets dropped their price target on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating for the company in a research note on Monday, October 27th. Colliers Securities lowered shares of Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a report on Monday, October 27th. Baird R W downgraded Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, October 8th. Finally, Industrial Alliance Securities set a $22.00 price target on Plymouth Industrial REIT in a research note on Monday, October 27th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Plymouth Industrial REIT currently has an average 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.