GW&K Investment Management LLC Increases Stock Holdings in Plymouth Industrial REIT, Inc. (NYSE:PLYM)

GW&K Investment Management LLC raised its stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 44,205.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,625 shares of the company’s stock after purchasing an additional 119,355 shares during the period. GW&K Investment Management LLC’s holdings in Plymouth Industrial REIT were worth $2,879,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC increased its stake in Plymouth Industrial REIT by 94.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 192,243 shares of the company’s stock valued at $4,627,000 after purchasing an additional 93,434 shares during the last quarter. Keeley Teton Advisors LLC increased its stake in Plymouth Industrial REIT by 124.8% in the third quarter. Keeley Teton Advisors LLC now owns 165,436 shares of the company’s stock valued at $3,466,000 after purchasing an additional 91,834 shares during the last quarter. Strs Ohio grew its position in shares of Plymouth Industrial REIT by 60.1% during the fourth quarter. Strs Ohio now owns 127,004 shares of the company’s stock worth $3,056,000 after acquiring an additional 47,700 shares during the last quarter. Jennison Associates LLC grew its position in shares of Plymouth Industrial REIT by 25.8% during the fourth quarter. Jennison Associates LLC now owns 3,949,004 shares of the company’s stock worth $95,053,000 after acquiring an additional 809,570 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Plymouth Industrial REIT by 53.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 471,532 shares of the company’s stock worth $9,879,000 after acquiring an additional 164,031 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Plymouth Industrial REIT news, Director Pendleton P. White acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $21.58 per share, for a total transaction of $86,320.00. Following the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at $86,320. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

PLYM has been the topic of a number of research reports. Truist Financial lowered their target price on shares of Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Barclays began coverage on Plymouth Industrial REIT in a report on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $25.00.

Plymouth Industrial REIT Price Performance

Shares of NYSE PLYM opened at $20.96 on Thursday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a fifty day moving average price of $21.22 and a 200 day moving average price of $22.05. Plymouth Industrial REIT, Inc. has a 1-year low of $19.21 and a 1-year high of $25.55. The company has a market cap of $951.16 million, a PE ratio of 48.74, a P/E/G ratio of 1.57 and a beta of 1.35.

Plymouth Industrial REIT (NYSE:PLYM) last released its earnings results on Wednesday, May 1st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.33). Plymouth Industrial REIT had a net margin of 11.42% and a return on equity of 4.74%. The business had revenue of $50.23 million during the quarter, compared to analyst estimates of $50.73 million. During the same period last year, the business posted $0.45 EPS. Sell-side analysts forecast that Plymouth Industrial REIT, Inc. will post 1.9 EPS for the current year.

About Plymouth Industrial REIT

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.