Plymouth Industrial REIT (NYSE:PLYM) Releases FY 2024 Earnings Guidance

Plymouth Industrial REIT (NYSE:PLYM) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 1.830-1.850 for the period, compared to the consensus estimate of 1.890. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. Truist Financial boosted their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. BNP Paribas lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price on the stock. in a research note on Friday. Barclays boosted their target price on shares of Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Finally, Wedbush raised their price target on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.25.

Plymouth Industrial REIT Stock Performance

Shares of Plymouth Industrial REIT stock opened at $20.90 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49. The stock’s fifty day moving average price is $21.94 and its 200-day moving average price is $22.02. The firm has a market cap of $948.86 million, a P/E ratio of 1,045.00, a P/E/G ratio of 1.61 and a beta of 1.37. Plymouth Industrial REIT has a 12 month low of $19.84 and a 12 month high of $25.55.

Plymouth Industrial REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 4.59%. Plymouth Industrial REIT’s dividend payout ratio is currently 4,800.00%.

Insider Transactions at Plymouth Industrial REIT

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of Plymouth Industrial REIT stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $23.58, for a total transaction of $13,285,868.04. Following the transaction, the insider now directly owns 4,474,292 shares of the company’s stock, valued at $105,503,805.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

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.