Equities Analysts Set Expectations for PLYM FY2024 Earnings

Plymouth Industrial REIT, Inc. (NYSE:PLYM) – Equities research analysts at Wedbush reduced their FY2024 earnings per share (EPS) estimates for Plymouth Industrial REIT in a report issued on Monday, November 11th. Wedbush analyst R. Anderson now forecasts that the company will post earnings per share of $1.84 for the year, down from their previous forecast of $1.90. Wedbush currently has a “Neutral” rating and a $25.00 target price on the stock. The consensus estimate for Plymouth Industrial REIT’s current full-year earnings is $1.84 per share. Wedbush also issued estimates for Plymouth Industrial REIT’s Q4 2024 earnings at $0.47 EPS.

PLYM has been the subject of several other research reports. Truist Financial raised their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Barclays boosted their price target on Plymouth Industrial REIT from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Robert W. Baird dropped their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday. JMP Securities reissued a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. Finally, B. Riley upped 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 research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Plymouth Industrial REIT has a consensus rating of “Hold” and an average target price of $25.22.

Plymouth Industrial REIT Stock Down 5.8 %

NYSE:PLYM opened at $19.65 on Tuesday. The firm has a 50-day simple moving average of $21.88 and a two-hundred day simple moving average of $22.03. The firm has a market cap of $892.03 million, a P/E ratio of 1,043.00, a P/E/G ratio of 1.62 and a beta of 1.37. Plymouth Industrial REIT has a fifty-two week low of $19.64 and a fifty-two week high of $25.55. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.16 and a current ratio of 0.16.

Hedge Funds Weigh In On Plymouth Industrial REIT

Several institutional investors and hedge funds have recently bought and sold shares of PLYM. Copeland Capital Management LLC bought a new position in shares of Plymouth Industrial REIT in the third quarter worth about $43,000. EntryPoint Capital LLC raised its stake in Plymouth Industrial REIT by 33.9% during the 1st quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock worth $112,000 after acquiring an additional 1,266 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its stake in Plymouth Industrial REIT by 431.0% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,447 shares of the company’s stock worth $202,000 after acquiring an additional 7,668 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in Plymouth Industrial REIT during the third quarter valued at approximately $202,000. Finally, SG Americas Securities LLC bought a new position in shares of Plymouth Industrial REIT in the third quarter worth approximately $204,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Plymouth Industrial REIT

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the business’s 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 completion of the sale, the insider now directly owns 4,474,292 shares in the company, valued at approximately $105,503,805.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

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 given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend was Monday, September 30th. Plymouth Industrial REIT’s payout ratio is currently 4,800.00%.

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.