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

Plymouth Industrial REIT (NYSE:PLYM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.880-1.900 for the period, compared to the consensus EPS estimate of 1.890. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PLYM. BMO Capital Markets lowered their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set a market perform rating for the company in a research report on Wednesday, August 28th. Truist Financial increased their target price on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a buy rating in a research report on Wednesday, August 28th. JMP Securities restated a market outperform rating and issued a $27.00 price target on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. JPMorgan Chase & Co. decreased their price objective on shares of Plymouth Industrial REIT from $24.00 to $23.00 and set an underweight rating for the company in a research note on Wednesday, July 10th. Finally, B. Riley raised their target price on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a buy rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Plymouth Industrial REIT has a consensus rating of Hold and an average price target of $25.57.

Plymouth Industrial REIT Stock Down 0.8 %

NYSE PLYM opened at $22.98 on Thursday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.49. Plymouth Industrial REIT has a fifty-two week low of $19.21 and a fifty-two week high of $25.55. The business has a 50 day moving average price of $23.58 and a two-hundred day moving average price of $22.03. The stock has a market cap of $1.04 billion, a PE ratio of 53.44, a P/E/G ratio of 1.73 and a beta of 1.36.

Plymouth Industrial REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.24 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 4.18%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 223.26%.

Insider Buying and Selling

In other Plymouth Industrial REIT news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $23.58, for a total value of $13,285,868.04. Following the completion of the transaction, the insider now directly owns 4,474,292 shares of the company’s stock, valued at approximately $105,503,805.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

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.