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

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 1.830-1.850 for the period, compared to the consensus earnings per share estimate of 1.890. The company issued revenue guidance of -.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. 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 report on Monday, August 5th. Barclays raised their price objective on Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an "equal weight" rating in a report on Wednesday, August 14th. Truist Financial upped their target price on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a "buy" rating in a research note on Wednesday, August 28th. BNP Paribas cut shares of Plymouth Industrial REIT from an "outperform" rating to a "neutral" rating and set a $23.00 price target on the stock. in a research note on Friday. Finally, JMP Securities restated a "market outperform" rating and set a $27.00 price objective on shares of Plymouth Industrial REIT in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $25.25.

Plymouth Industrial REIT Price Performance

PLYM traded up $0.21 on Friday, hitting $20.90. 601,439 shares of the company's stock were exchanged, compared to its average volume of 250,842. Plymouth Industrial REIT has a fifty-two week low of $19.84 and a fifty-two week high of $25.55. The stock has a market cap of $948.86 million, a price-to-earnings ratio of 1,049.00, a P/E/G ratio of 1.61 and a beta of 1.37. The firm has a 50-day moving average price of $22.00 and a 200-day moving average price of $22.01. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 4.59%. Plymouth Industrial REIT's payout ratio is presently 4,800.00%.

Insider Buying and Selling at Plymouth Industrial REIT

In related news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 4,474,292 shares of the company's stock, valued at approximately $105,503,805.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by insiders.

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.