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

by · The Markets Daily

Plymouth Industrial REIT (NYSE:PLYM – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.880-1.900 for the period, compared to the consensus estimate of 1.890. The company issued revenue guidance of -.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. 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 report on Wednesday, August 14th. Wedbush increased their price objective on Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a neutral rating in a report on Monday, August 5th. Truist Financial raised their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a buy rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. lowered their target price on 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 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 analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $25.57.

Get Our Latest Report on Plymouth Industrial REIT

Plymouth Industrial REIT Stock Down 3.1 %

PLYM stock opened at $22.54 on Friday. Plymouth Industrial REIT has a twelve month low of $19.21 and a twelve month high of $25.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.49. The firm has a market cap of $1.02 billion, a PE ratio of 52.42, a price-to-earnings-growth ratio of 1.75 and a beta of 1.36. The business has a 50 day moving average of $23.59 and a 200 day moving average of $22.04.

Plymouth Industrial REIT Announces Dividend

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

Insider Activity at Plymouth Industrial REIT

In related 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 transaction, the insider now 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 can be accessed through this link. 1.30% of the stock is owned by corporate insiders.

Plymouth Industrial REIT Company Profile

(Get Free Report)

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.

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