Millennium Management LLC Reduces Stock Position in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Millennium Management LLC trimmed its position in Plymouth Industrial REIT, Inc. (NYSE:PLYM - Free Report) by 93.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,487 shares of the company's stock after selling 167,223 shares during the period. Millennium Management LLC's holdings in Plymouth Industrial REIT were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PLYM. JPMorgan Chase & Co. increased its position in Plymouth Industrial REIT by 1.7% during the fourth quarter. JPMorgan Chase & Co. now owns 906,149 shares of the company's stock worth $16,129,000 after buying an additional 15,496 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in Plymouth Industrial REIT during the fourth quarter worth approximately $10,433,000. Dimensional Fund Advisors LP increased its position in Plymouth Industrial REIT by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 567,836 shares of the company's stock worth $10,108,000 after buying an additional 9,883 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Plymouth Industrial REIT during the fourth quarter worth approximately $9,612,000. Finally, Ameriprise Financial Inc. increased its position in Plymouth Industrial REIT by 10.8% during the fourth quarter. Ameriprise Financial Inc. now owns 536,689 shares of the company's stock worth $9,553,000 after buying an additional 52,389 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLYM. Robert W. Baird lowered their price target on Plymouth Industrial REIT from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Wall Street Zen downgraded Plymouth Industrial REIT from a "hold" rating to a "sell" rating in a research report on Saturday. Wedbush set a $17.00 target price on Plymouth Industrial REIT in a research report on Friday, February 28th. Barclays decreased their target price on Plymouth Industrial REIT from $22.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Monday, March 31st. Finally, KeyCorp decreased their target price on Plymouth Industrial REIT from $23.00 to $18.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $21.10.

Plymouth Industrial REIT Stock Performance

Shares of Plymouth Industrial REIT stock traded down $0.51 during mid-day trading on Friday, hitting $16.24. 472,244 shares of the stock were exchanged, compared to its average volume of 326,960. Plymouth Industrial REIT, Inc. has a 12 month low of $12.70 and a 12 month high of $24.71. The company has a 50-day simple moving average of $15.47 and a 200 day simple moving average of $16.56. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market capitalization of $739.70 million, a P/E ratio of 812.00 and a beta of 1.12.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). The company had revenue of $45.57 million during the quarter, compared to the consensus estimate of $47.69 million. Plymouth Industrial REIT had a return on equity of 0.20% and a net margin of 0.46%. Sell-side analysts anticipate that Plymouth Industrial REIT, Inc. will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Profile

Plymouth Industrial REIT, Inc NYSE: PLYM is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost effective space that is functional, flexible and safe.