Strs Ohio Purchases New Shares 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 shares of Plymouth Industrial REIT (NYSE:PLYM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PLYM. GAMMA Investing LLC lifted its stake in Plymouth Industrial REIT by 6,862.5% during the first quarter. GAMMA Investing LLC now owns 3,342 shares of the company's stock worth $54,000 after purchasing an additional 3,294 shares during the last quarter. Copeland Capital Management LLC lifted its stake in Plymouth Industrial REIT by 79.9% during the first quarter. Copeland Capital Management LLC now owns 3,509 shares of the company's stock worth $57,000 after purchasing an additional 1,558 shares during the last quarter. New York State Teachers Retirement System bought a new stake in Plymouth Industrial REIT during the first quarter worth about $60,000. PNC Financial Services Group Inc. lifted its stake in Plymouth Industrial REIT by 43.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the company's stock worth $75,000 after purchasing an additional 1,375 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Plymouth Industrial REIT by 181.8% during the first quarter. Signaturefd LLC now owns 4,946 shares of the company's stock worth $81,000 after purchasing an additional 3,191 shares during the last quarter. Institutional investors own 92.67% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PLYM shares. Truist Financial lifted their price target on Plymouth Industrial REIT from $18.00 to $21.00 and gave the stock a "hold" rating in a research note on Wednesday, August 20th. BMO Capital Markets boosted their target price 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. Wall Street Zen raised Plymouth Industrial REIT from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Wedbush raised Plymouth Industrial REIT to a "hold" rating in a research note on Wednesday, July 2nd. Finally, JMP Securities reissued a "market perform" rating on shares of Plymouth Industrial REIT in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $21.33.

Plymouth Industrial REIT Trading Up 0.2%

NYSE:PLYM traded up $0.04 during mid-day trading on Friday, reaching $22.04. 1,607,420 shares of the company's stock traded hands, compared to its average volume of 949,718. Plymouth Industrial REIT has a 12-month low of $12.70 and a 12-month high of $23.10. The firm has a market capitalization of $981.88 million, a price-to-earnings ratio of 7.65 and a beta of 1.17. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.13 and a quick ratio of 0.13. The company has a 50 day moving average price of $18.30 and a 200-day moving average price of $16.74.

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating 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 company had revenue of $47.20 million for the quarter, compared to the consensus estimate of $46.20 million. On average, sell-side analysts predict that Plymouth Industrial REIT will post 1.83 earnings per share for the current year.

Plymouth Industrial REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Tuesday, September 30th. Plymouth Industrial REIT's payout ratio is currently 33.33%.

Plymouth Industrial REIT Company 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.