Plymouth Industrial Reit (NYSEAMERICAN:PLYM) Issues FY 2019 Earnings Guidance

Plymouth Industrial Reit (NYSEAMERICAN:PLYM) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided EPS guidance of $1.73-1.76 for the period. The company issued revenue guidance of $71.6-72 million, compared to the consensus revenue estimate of $57.37 million.

Shares of PLYM stock traded down $0.38 on Friday, reaching $17.54. 42,264 shares of the company’s stock were exchanged, compared to its average volume of 50,967. Plymouth Industrial Reit has a 52 week low of $10.95 and a 52 week high of $19.59.

Plymouth Industrial Reit (NYSEAMERICAN:PLYM) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($1.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($1.96). The company had revenue of $16.66 million during the quarter, compared to analysts’ expectations of $16.66 million.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 8.55%. The ex-dividend date was Thursday, June 27th.

PLYM has been the subject of a number of research analyst reports. National Securities initiated coverage on Plymouth Industrial Reit in a research note on Wednesday, June 19th. They set a buy rating for the company. Zacks Investment Research upgraded Plymouth Industrial Reit from a sell rating to a hold rating in a report on Tuesday, July 23rd. Finally, Wedbush set a $20.00 price objective on Plymouth Industrial Reit and gave the stock a buy rating in a report on Monday, May 20th.

About Plymouth Industrial Reit

Plymouth Industrial REIT, Inc is a vertically integrated and self-managed real estate investment trust focused on the acquisition and operation of single and multi-tenant industrial properties located in secondary and select primary markets across the United States. The Company seeks to acquire properties that provide income and growth that enable the Company to leverage its real estate operating expertise to enhance shareholder value through active asset management, prudent property re-positioning and disciplined capital deployment.

See Also: Dividend

Earnings History and Estimates for Plymouth Industrial Reit (NYSEAMERICAN:PLYM)

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