Plymouth Industrial Reit Inc (PLYM) to Post FY2019 Earnings of $2.11 Per Share, DA Davidson Forecasts

Plymouth Industrial Reit Inc (NYSEAMERICAN:PLYM) – Analysts at DA Davidson lowered their FY2019 EPS estimates for shares of Plymouth Industrial Reit in a research note issued on Monday, May 20th. DA Davidson analyst B. Oxford now expects that the company will earn $2.11 per share for the year, down from their prior estimate of $2.47.

Plymouth Industrial Reit (NYSEAMERICAN:PLYM) last released its quarterly earnings data on Thursday, May 9th. The company reported ($1.37) EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($1.96). The firm had revenue of $16.66 million for the quarter, compared to the consensus estimate of $16.66 million.

Other equities analysts also recently issued reports about the stock. Wedbush set a $20.00 price objective on shares of Plymouth Industrial Reit and gave the stock a “buy” rating in a report on Monday. Zacks Investment Research downgraded shares of Plymouth Industrial Reit from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 30th. Finally, Sandler O’Neill started coverage on shares of Plymouth Industrial Reit in a report on Tuesday, January 29th. They set a “hold” rating and a $17.00 price objective for the company.

NYSEAMERICAN:PLYM opened at $17.55 on Thursday. Plymouth Industrial Reit has a 52 week low of $10.95 and a 52 week high of $19.50.

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 8.55%. The ex-dividend date was Thursday, March 28th.

A number of hedge funds have recently made changes to their positions in PLYM. Wedge Capital Management L L P NC bought a new position in Plymouth Industrial Reit during the 1st quarter valued at about $857,000. Renaissance Technologies LLC lifted its holdings in Plymouth Industrial Reit by 150.1% during the 1st quarter. Renaissance Technologies LLC now owns 78,844 shares of the company’s stock valued at $1,326,000 after purchasing an additional 47,320 shares during the last quarter. Keybank National Association OH bought a new position in Plymouth Industrial Reit during the 1st quarter valued at about $562,000. JPMorgan Chase & Co. lifted its holdings in Plymouth Industrial Reit by 137.5% during the 1st quarter. JPMorgan Chase & Co. now owns 49,372 shares of the company’s stock valued at $830,000 after purchasing an additional 28,584 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in Plymouth Industrial Reit by 52.1% during the 4th quarter. D.A. Davidson & CO. now owns 79,737 shares of the company’s stock valued at $1,005,000 after purchasing an additional 27,304 shares during the last quarter.

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.

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

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