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 earnings per share guidance of 1.880-1.900 for the period, compared to the consensus earnings per share estimate of 1.890. The company issued revenue guidance of -.

Plymouth Industrial REIT Trading Up 1.3 %

Shares of PLYM stock opened at $23.27 on Friday. Plymouth Industrial REIT has a twelve month low of $19.21 and a twelve month high of $25.55. The firm has a 50-day moving average price of $23.58 and a 200 day moving average price of $22.03. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 54.12, a PEG ratio of 1.73 and a beta of 1.36. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49.

Plymouth Industrial REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Monday, September 30th. Plymouth Industrial REIT’s payout ratio is 223.26%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PLYM shares. BMO Capital Markets dropped their price target on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a market perform rating on the stock in a research note on Wednesday, August 28th. B. Riley lifted their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a buy rating in a research report on Monday, August 5th. Wedbush boosted 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 lifted their price target on Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a buy rating in a report on Wednesday, August 28th. Finally, Barclays upped their price objective 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. One investment 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 MarketBeat, the company presently has a consensus rating of Hold and an average target price of $25.57.

Insider Buying and Selling 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 dated Monday, August 19th. The stock was 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 owns 4,474,292 shares of the company’s stock, valued at $105,503,805.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Plymouth Industrial REIT Company Profile

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.