Plymouth Industrial REIT, Inc. (PLYM) To Go Ex-Dividend on June 28th

Plymouth Industrial REIT, Inc. (NYSE:PLYMGet Free Report) announced a quarterly dividend on Friday, June 14th, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.24 per share on Wednesday, July 31st. This represents a $0.96 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Friday, June 28th.

Plymouth Industrial REIT has a dividend payout ratio of 1,285.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Plymouth Industrial REIT to earn $2.05 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 43.9%.

Plymouth Industrial REIT Price Performance

Shares of Plymouth Industrial REIT stock opened at $20.95 on Friday. Plymouth Industrial REIT has a fifty-two week low of $19.21 and a fifty-two week high of $25.55. The company has a market cap of $950.71 million, a PE ratio of 48.72, a price-to-earnings-growth ratio of 1.58 and a beta of 1.36. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a fifty day moving average price of $20.87 and a two-hundred day moving average price of $22.00.

Plymouth Industrial REIT (NYSE:PLYMGet Free Report) last announced its quarterly earnings data 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). Plymouth Industrial REIT had a net margin of 11.42% and a return on equity of 4.74%. The business had revenue of $50.23 million during the quarter, compared to analyst estimates of $50.73 million. During the same quarter in the prior year, the company posted $0.45 EPS. Analysts expect that Plymouth Industrial REIT will post 1.9 EPS for the current year.

Analyst Ratings Changes

PLYM has been the subject of a number of recent research reports. Truist Financial dropped their price objective 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. Barclays initiated coverage on shares of Plymouth Industrial REIT in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $22.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.00.

View Our Latest Stock Analysis on PLYM

Plymouth Industrial REIT Company Profile

(Get Free Report)

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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Dividend History for Plymouth Industrial REIT (NYSE:PLYM)

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