Equities Analysts Offer Predictions for PLYM FY2024 Earnings

Plymouth Industrial REIT, Inc. (NYSE:PLYM) – Equities researchers at Wedbush decreased their FY2024 earnings estimates for Plymouth Industrial REIT in a report released on Monday, November 11th. Wedbush analyst R. Anderson now expects that the company will earn $1.84 per share for the year, down from their prior forecast of $1.90. Wedbush currently has a “Neutral” rating and a $25.00 target price on the stock. The consensus estimate for Plymouth Industrial REIT’s current full-year earnings is $1.84 per share. Wedbush also issued estimates for Plymouth Industrial REIT’s Q4 2024 earnings at $0.47 EPS.

A number of other research firms have also weighed in on PLYM. BNP Paribas lowered shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price on the stock. in a research note on Friday, November 8th. Barclays lifted 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. JMP Securities restated a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. Robert W. Baird reduced their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, B. Riley boosted their price target on shares of Plymouth Industrial REIT from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $25.22.

Plymouth Industrial REIT Stock Performance

PLYM opened at $19.55 on Tuesday. Plymouth Industrial REIT has a twelve month low of $19.44 and a twelve month high of $25.55. The firm has a market capitalization of $887.57 million, a PE ratio of 983.50, a PEG ratio of 1.53 and a beta of 1.37. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.49. The firm’s 50-day moving average price is $21.80 and its 200 day moving average price is $22.02.

Plymouth Industrial REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend was Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio is presently 4,800.00%.

Insider Buying and Selling

In other Plymouth Industrial REIT news, major shareholder Mirelf Vi Reit Investments Iv, sold 563,438 shares of Plymouth Industrial REIT stock in a transaction dated Monday, August 19th. The shares were 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 directly owns 4,474,292 shares in the company, valued at $105,503,805.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Plymouth Industrial REIT

Several institutional investors and hedge funds have recently modified their holdings of the company. Copeland Capital Management LLC purchased a new position in Plymouth Industrial REIT in the 3rd quarter valued at approximately $43,000. Loomis Sayles & Co. L P raised its stake in shares of Plymouth Industrial REIT by 3,130.6% in the third quarter. Loomis Sayles & Co. L P now owns 2,003 shares of the company’s stock valued at $45,000 after acquiring an additional 1,941 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in Plymouth Industrial REIT by 33.9% in the first quarter. EntryPoint Capital LLC now owns 4,997 shares of the company’s stock valued at $112,000 after purchasing an additional 1,266 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in Plymouth Industrial REIT in the third quarter valued at $202,000. Finally, SG Americas Securities LLC acquired a new position in Plymouth Industrial REIT during the 3rd quarter worth $204,000. Hedge funds and other institutional investors own 92.67% 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.