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 -.

Analysts Set New Price Targets

Several research firms have issued reports on PLYM. Barclays increased their price objective on Plymouth Industrial REIT from $22.00 to $25.00 and gave the stock an equal weight rating in a research report on Wednesday, August 14th. B. Riley lifted their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a buy rating in a research report on Monday, August 5th. JMP Securities reissued a market outperform rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. BMO Capital Markets reduced their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set a market perform rating on the stock in a research report on Wednesday, August 28th. Finally, Wedbush boosted their target price on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the company a neutral rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $25.57.

Plymouth Industrial REIT Stock Performance

Shares of NYSE:PLYM opened at $22.54 on Friday. The company has a market cap of $1.02 billion, a P/E ratio of 52.42, a PEG ratio of 1.75 and a beta of 1.36. Plymouth Industrial REIT has a one year low of $19.21 and a one year high of $25.55. The business’s 50-day simple moving average is $23.59 and its 200 day simple moving average is $22.04. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.16 and a current ratio of 0.16.

Plymouth Industrial REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.26%. The ex-dividend date is Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 223.26%.

Insider Transactions at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was 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 owns 4,474,292 shares in the company, valued at approximately $105,503,805.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.30% 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.