Q3 2024 EPS Estimates for Plymouth Industrial REIT, Inc. (NYSE:PLYM) Decreased by B. Riley

Plymouth Industrial REIT, Inc. (NYSE:PLYM) – Research analysts at B. Riley reduced their Q3 2024 earnings estimates for shares of Plymouth Industrial REIT in a research note issued to investors on Monday, August 5th. B. Riley analyst B. Maher now expects that the company will earn $0.47 per share for the quarter, down from their previous forecast of $0.49. B. Riley has a “Buy” rating and a $27.00 price target on the stock. The consensus estimate for Plymouth Industrial REIT’s current full-year earnings is $1.89 per share. B. Riley also issued estimates for Plymouth Industrial REIT’s FY2024 earnings at $1.88 EPS, Q2 2025 earnings at $0.50 EPS, Q1 2026 earnings at $0.54 EPS, Q2 2026 earnings at $0.54 EPS and FY2026 earnings at $2.18 EPS.

A number of other brokerages also recently commented on PLYM. JPMorgan Chase & Co. cut their price objective on shares of Plymouth Industrial REIT from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Wedbush upped their price objective on shares of Plymouth Industrial REIT from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.67.

Plymouth Industrial REIT Stock Up 0.3 %

PLYM stock opened at $23.24 on Wednesday. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 54.05, a price-to-earnings-growth ratio of 1.81 and a beta of 1.36. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.16 and a quick ratio of 0.12. Plymouth Industrial REIT has a 12 month low of $19.21 and a 12 month high of $25.55. The company has a fifty day moving average price of $22.24 and a 200 day moving average price of $21.75.

Hedge Funds Weigh In On Plymouth Industrial REIT

A number of institutional investors and hedge funds have recently made changes to their positions in PLYM. Jennison Associates LLC grew its stake in shares of Plymouth Industrial REIT by 25.8% during the 4th quarter. Jennison Associates LLC now owns 3,949,004 shares of the company’s stock worth $95,053,000 after purchasing an additional 809,570 shares during the period. Westwood Holdings Group Inc. grew its stake in Plymouth Industrial REIT by 10.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,935,803 shares of the company’s stock valued at $66,056,000 after acquiring an additional 286,434 shares during the last quarter. F M Investments LLC acquired a new stake in Plymouth Industrial REIT in the 2nd quarter valued at about $6,088,000. Heritage Wealth Advisors grew its stake in Plymouth Industrial REIT by 530.6% in the 1st quarter. Heritage Wealth Advisors now owns 208,730 shares of the company’s stock valued at $4,696,000 after acquiring an additional 175,630 shares during the last quarter. Finally, GW&K Investment Management LLC grew its stake in Plymouth Industrial REIT by 44,205.6% in the 4th quarter. GW&K Investment Management LLC now owns 119,625 shares of the company’s stock valued at $2,879,000 after acquiring an additional 119,355 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Plymouth Industrial REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.13%. Plymouth Industrial REIT’s dividend payout ratio (DPR) is presently 223.26%.

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.