Strs Ohio Invests $6.65 Million in Plymouth Industrial REIT $PLYM

Key Points

• Strs Ohio has invested approximately $6.65 million in Plymouth Industrial REIT, acquiring about 408,104 shares, representing about 0.90% of the company.
• Several other institutional investors also increased their stakes in Plymouth Industrial REIT significantly during the 1st quarter, with MetLife Investment Management growing its stake by a remarkable 2,406.8%.
• Plymouth Industrial REIT's stock recently reported a quarterly earnings per share (EPS) of $0.46, exceeding analyst estimates, while analysts predict a consensus EPS of 1.83 for the current year.

Strs Ohio purchased a new position in Plymouth Industrial REIT (NYSE:PLYM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 408,104 shares of the company's stock, valued at approximately $6,652,000. Strs Ohio owned about 0.90% of Plymouth Industrial REIT at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Westwood Holdings Group Inc. increased its holdings in Plymouth Industrial REIT by 24.5% in the 1st quarter. Westwood Holdings Group Inc. now owns 4,520,361 shares of the company's stock worth $73,682,000 after buying an additional 889,250 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Plymouth Industrial REIT by 29.6% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 700,000 shares of the company's stock valued at $11,410,000 after purchasing an additional 160,000 shares during the period. MetLife Investment Management LLC grew its stake in shares of Plymouth Industrial REIT by 2,406.8% during the 1st quarter. MetLife Investment Management LLC now owns 656,826 shares of the company's stock valued at $10,706,000 after purchasing an additional 630,624 shares during the period. Meros Investment Management LP grew its stake in shares of Plymouth Industrial REIT by 47.7% during the 1st quarter. Meros Investment Management LP now owns 573,160 shares of the company's stock valued at $9,343,000 after purchasing an additional 185,170 shares during the period. Finally, Heartland Advisors Inc. grew its stake in shares of Plymouth Industrial REIT by 56.7% during the 1st quarter. Heartland Advisors Inc. now owns 549,900 shares of the company's stock valued at $8,963,000 after purchasing an additional 198,900 shares during the period. Hedge funds and other institutional investors own 92.67% of the company's stock.

Plymouth Industrial REIT Stock Performance

Shares of Plymouth Industrial REIT stock opened at $22.02 on Monday. The stock's fifty day moving average is $17.71 and its two-hundred day moving average is $16.56. The company has a market capitalization of $981.12 million, a PE ratio of 7.65 and a beta of 1.17. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.15. Plymouth Industrial REIT has a 52 week low of $12.70 and a 52 week high of $23.40.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. Plymouth Industrial REIT had a return on equity of 24.24% and a net margin of 67.77%.The business had revenue of $47.20 million for the quarter, compared to the consensus estimate of $46.20 million. As a group, analysts expect that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. BMO Capital Markets boosted their price target on Plymouth Industrial REIT from $17.00 to $24.00 and gave the company a "market perform" rating in a research note on Thursday, August 21st. Citizens Jmp cut Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Truist Financial lifted their price objective on Plymouth Industrial REIT from $18.00 to $21.00 and gave the company a "hold" rating in a research report on Wednesday, August 20th. Wall Street Zen raised Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Plymouth Industrial REIT in a research report on Wednesday, August 20th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Plymouth Industrial REIT currently has an average rating of "Hold" and an average price target of $20.67.

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.

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