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

Plymouth Industrial Reit (NYSEAMERICAN:PLYM) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share 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 Plymouth Industrial Reit stock traded down $0.38 on Friday, hitting $17.54. The stock had a trading volume of 42,264 shares, compared to its average volume of 50,967. Plymouth Industrial Reit has a one year low of $10.95 and a one year high of $19.59.

Plymouth Industrial Reit (NYSEAMERICAN:PLYM) last issued its earnings results on Thursday, May 9th. The company reported ($1.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($1.96). The firm had revenue of $16.66 million for 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 $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 8.55%. The ex-dividend date was Thursday, June 27th.

Several equities analysts have commented on the company. National Securities assumed coverage on Plymouth Industrial Reit in a research report on Wednesday, June 19th. They set a buy rating for the company. Wedbush set a $20.00 price objective on Plymouth Industrial Reit and gave the company a buy rating in a research report on Monday, May 20th. Finally, Zacks Investment Research raised Plymouth Industrial Reit from a sell rating to a hold rating in a research report on Tuesday, July 23rd.

Plymouth Industrial Reit Company Profile

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.

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

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