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

Plymouth Industrial REIT (NYSE:PLYM) 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 -.

Plymouth Industrial REIT Stock Up 1.3 %

PLYM opened at $23.27 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.16 and a quick ratio of 0.16. The company has a fifty day moving average price of $23.58 and a 200-day moving average price of $22.03. The firm has a market capitalization of $1.06 billion, a P/E ratio of 54.12, a price-to-earnings-growth ratio of 1.73 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.

Plymouth Industrial REIT Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on PLYM shares. JPMorgan Chase & Co. dropped their price target on Plymouth Industrial REIT from $24.00 to $23.00 and set an underweight rating on the stock in a research report on Wednesday, July 10th. B. Riley raised their target price on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a buy rating in a research note on Monday, August 5th. JMP Securities reaffirmed a market outperform rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. Truist Financial increased their price target on shares of 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 Plymouth Industrial REIT from $22.00 to $25.00 and gave the company an equal weight rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $25.57.

Insiders Place Their Bets

In other news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of the stock in a transaction 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 directly owns 4,474,292 shares in the company, valued at approximately $105,503,805.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by corporate 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.