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

Plymouth Industrial REIT (NYSE:PLYM - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.880-1.920 for the period, compared to the consensus estimate of 1.910. The company issued revenue guidance of -.

Analyst Ratings Changes

A number of brokerages recently issued reports on PLYM. Barclays began coverage on Plymouth Industrial REIT in a research report on Wednesday, March 27th. They issued an equal weight rating and a $22.00 target price for the company. Truist Financial decreased their target price on Plymouth Industrial REIT from $26.00 to $24.00 and set a buy rating for the company in a research report on Thursday, February 29th. Finally, JMP Securities raised Plymouth Industrial REIT from a market perform rating to an outperform rating and set a $27.00 price objective for the company in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $25.00.

Plymouth Industrial REIT Price Performance

Shares of PLYM traded up $0.10 during mid-day trading on Wednesday, hitting $20.98. The company's stock had a trading volume of 163,866 shares, compared to its average volume of 240,811. The firm has a 50-day simple moving average of $21.49 and a 200 day simple moving average of $21.99. The firm has a market capitalization of $952.07 million, a P/E ratio of 110.42, a P/E/G ratio of 1.56 and a beta of 1.36. Plymouth Industrial REIT has a 1-year low of $19.21 and a 1-year high of $25.55. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.47.

Plymouth Industrial REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were issued a dividend of $0.24 per share. The ex-dividend date was Wednesday, March 27th. This is a boost from Plymouth Industrial REIT's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 4.58%. Plymouth Industrial REIT's payout ratio is currently 505.26%.

Insider Buying and Selling

In other news, Director Pendleton P. White acquired 4,000 shares of Plymouth Industrial REIT stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $21.58 per share, with a total value of $86,320.00. Following the completion of the acquisition, the director now owns 4,000 shares in the company, valued at approximately $86,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently 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.

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