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 Wednesday 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 1.900. The company issued revenue guidance of -.

Plymouth Industrial REIT Stock Down 1.1 %

Shares of NYSE PLYM traded down $0.26 during midday trading on Wednesday, hitting $24.00. 401,240 shares of the company’s stock were exchanged, compared to its average volume of 232,137. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.12 and a quick ratio of 0.12. Plymouth Industrial REIT has a twelve month low of $19.21 and a twelve month high of $25.55. The company has a market cap of $1.09 billion, a PE ratio of 56.42, a P/E/G ratio of 1.83 and a beta of 1.36. The firm’s fifty day simple moving average is $21.80 and its 200-day simple moving average is $21.70.

Plymouth Industrial REIT (NYSE:PLYM) last released its earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.33). The company had revenue of $50.23 million during the quarter, compared to analyst estimates of $50.73 million. Plymouth Industrial REIT had a net margin of 11.42% and a return on equity of 4.74%. During the same period in the previous year, the firm posted $0.45 EPS. Research analysts predict that Plymouth Industrial REIT will post 1.88 EPS for the current fiscal year.

Plymouth Industrial REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.24 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.00%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 223.26%.

Analyst Upgrades and Downgrades

PLYM has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price target on Plymouth Industrial REIT from $24.00 to $23.00 and set an underweight rating for the company in a research note on Wednesday, July 10th. Wedbush raised Plymouth Industrial REIT to a hold rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $24.60.

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.