Plymouth Industrial REIT (PLYM) Set to Announce Earnings on Wednesday

Plymouth Industrial REIT (NYSE:PLYM) will announce its earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.47 per share for the quarter.

Plymouth Industrial REIT Stock Down 0.2 %

Shares of NYSE PLYM traded down $0.04 during trading on Wednesday, reaching $21.14. 8,066 shares of the stock were exchanged, compared to its average volume of 238,872. Plymouth Industrial REIT has a twelve month low of $19.21 and a twelve month high of $25.55. The company has a market capitalization of $959.33 million, a price-to-earnings ratio of 110.84, a price-to-earnings-growth ratio of 1.55 and a beta of 1.36. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.47. The business’s 50-day moving average price is $21.63 and its 200 day moving average price is $22.00.

Plymouth Industrial REIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.54%. This is a positive change from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, March 27th. Plymouth Industrial REIT’s payout ratio is presently 505.26%.

Insider Transactions at Plymouth Industrial REIT

In related news, Director Pendleton P. White bought 4,000 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $21.58 per share, with a total value of $86,320.00. Following the purchase, the director now owns 4,000 shares in the company, valued at $86,320. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JMP Securities upgraded shares of Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a research note on Monday, January 22nd. Truist Financial lowered their target price on shares of Plymouth Industrial REIT from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Finally, Barclays initiated coverage on Plymouth Industrial REIT in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $22.00 target price for the company. 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 data from MarketBeat, Plymouth Industrial REIT presently has an average rating of “Moderate Buy” and an average price target of $25.00.

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.