Strs Ohio Grows Stake in Plymouth Industrial REIT $PLYM

Strs Ohio increased its holdings in shares of Plymouth Industrial REIT (NYSE:PLYM) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 428,404 shares of the company’s stock after purchasing an additional 20,300 shares during the quarter. Strs Ohio owned approximately 0.94% of Plymouth Industrial REIT worth $6,880,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Jennison Associates LLC grew its position in shares of Plymouth Industrial REIT by 3.0% during the second quarter. Jennison Associates LLC now owns 3,645,335 shares of the company’s stock worth $58,544,000 after purchasing an additional 104,526 shares in the last quarter. Peregrine Capital Management LLC boosted its stake in Plymouth Industrial REIT by 10.6% during the second quarter. Peregrine Capital Management LLC now owns 352,648 shares of the company’s stock valued at $5,664,000 after buying an additional 33,668 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Plymouth Industrial REIT by 103.8% during the second quarter. Envestnet Asset Management Inc. now owns 45,387 shares of the company’s stock valued at $729,000 after buying an additional 23,113 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Plymouth Industrial REIT by 17.3% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 47,644 shares of the company’s stock valued at $765,000 after buying an additional 7,010 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its stake in Plymouth Industrial REIT by 1.8% during the second quarter. D.A. Davidson & CO. now owns 59,937 shares of the company’s stock valued at $963,000 after buying an additional 1,032 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Price Performance

NYSE:PLYM opened at $22.02 on Monday. The firm has a market capitalization of $980.77 million, a price-to-earnings ratio of 7.64 and a beta of 1.18. Plymouth Industrial REIT has a 1 year low of $12.70 and a 1 year high of $22.65. The business has a 50 day simple moving average of $21.93 and a 200-day simple moving average of $18.02. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.13 and a quick ratio of 0.13.

Plymouth Industrial REIT (NYSE:PLYM) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The business had revenue of $47.20 million during the quarter, compared to analyst estimates of $46.20 million. Plymouth Industrial REIT had a return on equity of 24.24% and a net margin of 67.77%. Equities analysts forecast that Plymouth Industrial REIT will post 1.83 EPS for the current year.

Plymouth Industrial REIT Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Industrial Alliance Securities set a $22.00 price target on Plymouth Industrial REIT in a research note on Monday, October 27th. Citizens Jmp lowered Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. JMP Securities reissued a “market perform” rating on shares of Plymouth Industrial REIT in a research note on Wednesday, August 20th. Truist Financial increased their price target on Plymouth Industrial REIT from $18.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, August 20th. Finally, Colliers Securities lowered Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a research note on Monday, October 27th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Plymouth Industrial REIT has a consensus rating of “Hold” and an average target price of $21.55.

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.