Public Employees Retirement System of Ohio Buys 13,062 Shares of Plymouth Industrial REIT $PLYM

Public Employees Retirement System of Ohio boosted its stake in shares of Plymouth Industrial REIT (NYSE:PLYM) by 6.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 219,326 shares of the company’s stock after buying an additional 13,062 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.48% of Plymouth Industrial REIT worth $3,522,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position 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 valued at $54,000 after buying an additional 3,294 shares during the period. Janney Montgomery Scott LLC bought a new position in Plymouth Industrial REIT during the first quarter valued at about $408,000. Adage Capital Partners GP L.L.C. boosted its position in Plymouth Industrial REIT by 29.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 700,000 shares of the company’s stock worth $11,410,000 after purchasing an additional 160,000 shares during the period. Russell Investments Group Ltd. boosted its position in Plymouth Industrial REIT by 7.8% during the first quarter. Russell Investments Group Ltd. now owns 128,593 shares of the company’s stock worth $2,096,000 after purchasing an additional 9,340 shares during the period. Finally, BROOKFIELD Corp ON bought a new position in Plymouth Industrial REIT during the first quarter worth about $3,894,000. Institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PLYM. Truist Financial increased their target price on shares of Plymouth Industrial REIT from $18.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, August 20th. JMP Securities reiterated a “market perform” rating on shares of Plymouth Industrial REIT in a research report on Wednesday, August 20th. BMO Capital Markets increased their target price on shares of Plymouth Industrial REIT from $17.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, August 21st. Barclays increased their target price on shares of Plymouth Industrial REIT from $18.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, September 15th. Finally, Citizens Jmp lowered shares of Plymouth Industrial REIT from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $21.33.

Plymouth Industrial REIT Trading Up 0.6%

Shares of Plymouth Industrial REIT stock opened at $22.33 on Wednesday. Plymouth Industrial REIT has a 12-month low of $12.70 and a 12-month high of $22.65. The company has a market cap of $994.80 million, a price-to-earnings ratio of 7.75 and a beta of 1.17. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.15. The company’s 50-day moving average price is $19.17 and its 200-day moving average price is $16.98.

Plymouth Industrial REIT (NYSE:PLYM) last announced 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 net margin of 67.77% and a return on equity of 24.24%. The firm had revenue of $47.20 million for the quarter, compared to the consensus estimate of $46.20 million. On average, equities analysts expect that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

Plymouth Industrial REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Plymouth Industrial REIT’s dividend payout ratio (DPR) 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.