Plymouth Industrial REIT (PLYM) to Release 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. Investors that are interested in registering for the company’s conference call can do so using this link.

Plymouth Industrial REIT Stock Performance

NYSE PLYM traded up $0.01 during trading hours on Tuesday, reaching $20.81. The company’s stock had a trading volume of 14,897 shares, compared to its average volume of 239,274. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.47. The business has a 50-day simple moving average of $21.51 and a 200 day simple moving average of $21.99. Plymouth Industrial REIT has a 52 week low of $19.21 and a 52 week high of $25.55. The stock has a market cap of $944.36 million, a PE ratio of 109.47, a PEG ratio of 1.55 and a beta of 1.36.

Plymouth Industrial REIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.24 dividend. This is an increase from Plymouth Industrial REIT’s previous quarterly dividend of $0.23. The ex-dividend date is Wednesday, March 27th. This represents a $0.96 annualized dividend and a dividend yield of 4.61%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is 505.26%.

Analyst Upgrades and Downgrades

PLYM has been the subject of a number of recent research reports. Barclays assumed coverage on Plymouth Industrial REIT in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $22.00 price objective for the company. JMP Securities raised shares of Plymouth Industrial REIT from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a report on Monday, January 22nd. Finally, Truist Financial reduced 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

Insider Activity at Plymouth Industrial REIT

In related news, Director Pendleton P. White acquired 4,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $21.58 per share, for a total transaction of $86,320.00. Following the completion of the acquisition, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $86,320. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.30% 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.