Plymouth Industrial Reit (PLYM) AI Stock Analysis

• Market Cap: $759.63M
• Dividend Yield: 5.79%
• Average Volume (3M): 392.94K
• Price to Earnings (P/E): 5.4
• Beta (1Y): 0.91
• Revenue Growth: -3.48%
• EPS Growth: 615.20%
• Country: US
• Employees: 46
• Sector: Real Estate
• Sector Strength: 66
• Industry: REIT - Industrial
• EPS (TTM): 0.13
• Shares Outstanding: 45,547,897
• 10 Day Avg. Volume: 358,633
• 30 Day Avg. Volume: 392,941
• PEG Ratio: -19.10
• Price to Book (P/B): 1.20
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 7.76
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $18.31
• Price Target Upside: 10.50% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 9

Plymouth Industrial REIT's overall score is driven by strong financial performance, attractive valuation, and positive earnings call sentiment. While technical analysis indicates potential for a pullback, the company's strategic acquisitions, robust liquidity, and undervalued stock price provide a solid foundation for future growth.

Positive Factors

Dividend Yield

Plymouth offers a 5.8% dividend yield, higher than the industrial REIT average of 3.5%.

Portfolio Expansion

Leasing activity accelerated with 2.5M SF of leases commenced.

Rental Income Growth

The company will experience a 12.2% increase in rental rates on a cash basis from executed leases scheduled to start during 2025.

Negative Factors

Earnings Performance

The company reported Core FFO numbers of $0.44, two cents lower than consensus estimates and one penny lower than analyst estimates.

Guidance Outlook

The outlook came in well below expectations, with guidance representing just 2% year-over-year growth.

Lease Expirations

There are two large lease expirations this year, posing potential risks to occupancy and revenue.

Plymouth Industrial Reit Business Overview & Revenue Model

Company Description

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.

How the Company Makes Money

Plymouth Industrial REIT generates revenue primarily through leasing its industrial properties to a variety of tenants. The company signs long-term lease agreements with businesses that require industrial space for activities such as warehousing, distribution, and manufacturing. These leases typically include base rent and may also incorporate additional charges for property-related expenses such as maintenance and utilities. The company seeks to maintain high occupancy rates and strategically acquires additional properties to expand its portfolio and increase rental income. Additionally, Plymouth may engage in property management services or enter into strategic partnerships to enhance its revenue streams. The company's earnings are significantly influenced by factors such as property location, tenant creditworthiness, market demand for industrial real estate, and overall economic conditions.

Plymouth Industrial Reit Financial Statement Overview

Summary

Plymouth Industrial REIT exhibits strong financial performance with significant revenue growth and improved profitability margins. The balance sheet is robust with no debt and good equity growth. Cash flow generation is strong, reflecting operational efficiency and financial stability. However, asset management vigilance is advised for sustained success.

Income Statement

Plymouth Industrial REIT shows strong revenue growth over the years, with a significant increase from $75.3M in 2019 to $198.4M in 2024. Gross profit margin has improved significantly, reaching 100% in 2024, indicating effective cost management. The net profit margin has improved dramatically, from losses in previous years to a healthy 69.5% in 2024, driven by increased revenue and cost efficiency. EBIT and EBITDA margins have also seen improvement, reflecting enhanced operational efficiency.

Balance Sheet

The company has strengthened its financial position, with stockholders' equity growing from $236.7M in 2019 to $579.5M in 2024, demonstrating solid equity growth. The debt-to-equity ratio has improved significantly, moving from high leverage in earlier years to no debt in 2024, indicating a low-risk profile. The equity ratio has improved, showing a more balanced financial structure. However, the total assets have decreased slightly in recent years, which could indicate a need for cautious asset management.

Cash Flow

Operating cash flow has grown steadily, indicating improved cash generation capabilities. Free cash flow has increased, showing a positive growth trajectory and strong cash flow management. The ratio of operating cash flow to net income is robust, reflecting strong cash conversion. Overall, the cash flow position is healthy, with a focus on sustaining operational cash flow.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
193.70M	198.35M	199.85M	183.54M	140.62M	109.85M
	Gross Profit
112.57M	136.64M	137.31M	126.94M	92.98M	71.69M
	EBIT
35.68M	36.14M	29.51M	15.54M	8.57M	4.90M
	EBITDA
184.97M	183.70M	142.79M	108.27M	75.34M	60.43M
	Net Income Common Stockholders
138.89M	139.34M	13.66M	-17.30M	-34.13M	-33.33M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
14.49M	17.55M	14.49M	11.00M	43.37M	15.67M
	Total Assets
1.44B	1.37B	1.44B	1.52B	1.27B	920.27M
	Total Debt
872.55M	646.02M	872.55M	916.62M	690.14M	520.37M
	Net Debt
858.05M	628.47M	858.05M	905.62M	646.77M	504.70M
	Total Liabilities
953.66M	781.30M	953.66M	998.09M	767.29M	581.05M
	Stockholders Equity
483.02M	579.55M	483.02M	517.84M	498.68M	334.45M
Cash Flow		Free Cash Flow
89.49M	96.07M	81.87M	16.73M	32.63M	35.68M
	Operating Cash Flow
95.07M	96.07M	81.87M	72.23M	57.94M	41.74M
	Investing Cash Flow
23.43M	87.46M	-79.00K	-252.36M	-356.08M	-259.12M
	Financing Cash Flow
-102.21M	-166.11M	-86.80M	167.97M	309.46M	227.03M

Plymouth Industrial Reit Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 16.57
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PLYM, the sentiment is Positive. The current price of 16.57 is above the 20-day moving average (MA) of 15.23, above the 50-day MA of 15.61, and below the 200-day MA of 18.49, indicating a neutral trend. The MACD of 0.28 indicates Negative momentum. The RSI at 69.88 is Neutral, neither overbought nor oversold. The STOCH value of 88.59 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PLYM.

Plymouth Industrial Reit Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PLYM	79 Outperform	$759.63M	5.44	26.05%	5.79%	-3.48%	615.20%
STAG	78 Outperform	$6.66B	26.37	7.15%	4.18%	8.81%	33.30%
EGP	76 Outperform	$9.09B	37.31	7.61%	3.20%	11.92%	-0.83%
FR	74 Outperform	$6.88B	25.00	10.18%	3.06%	9.18%	-7.05%
REXR	69 Neutral	$8.45B	28.76	3.35%	4.75%	18.02%	12.12%
LXP	67 Neutral	$2.43B	41.90	2.98%	6.35%	5.68%	358.78%
Sector *	60 Neutral	$2.82B	10.41	0.43%	8531.49%	6.00%	-17.35%

Plymouth Industrial Reit Corporate Events

Plymouth Industrial REIT Releases Q1 2025 Analyst Package

Plymouth Industrial REIT disclosed a supplemental analyst package and prepared commentary on May 1, 2025, in connection with its earnings conference call for the first quarter ended March 31, 2025. The release of these documents is intended to provide additional insights for stakeholders ahead of the scheduled conference call on May 2, 2025, potentially impacting the company’s communication strategy with analysts and investors.

Spark’s Take on PLYM Stock

According to Spark, TipRanks’ AI Analyst, PLYM is a Outperform.

Plymouth Industrial REIT’s strong financial health and strategic initiatives support a robust overall score. Despite technical weaknesses, the company’s attractive valuation and positive earnings outlook provide a solid foundation for potential growth.

To see Spark’s full report on PLYM stock, click here.

Plymouth Industrial REIT Appoints New Independent Director

On March 13, 2025, Plymouth Industrial REIT announced the appointment of Robert O. Stephenson to its Board of Directors as an independent director and a member of the Audit Committee. Mr. Stephenson, who is currently the CFO of Omega Healthcare Investors, brings extensive REIT financial and operating experience, which is expected to significantly contribute to Plymouth’s operations and strategic goals.

Plymouth Industrial REIT Announces $90M Share Buyback

On February 26, 2025, Plymouth Industrial REIT announced a share repurchase program authorized by its Board of Directors, allowing the company to buy back up to $90 million of its outstanding common stock. This strategic move, which will be executed in compliance with securities laws, aims to enhance shareholder value and reflects the company’s confidence in its financial position and market conditions.