Plymouth Industrial Reit (PLYM) AI Stock Analysis

• Market Cap: $745.82M
• Dividend Yield: 5.92%
• Average Volume (3M): 342.50K
• Price to Earnings (P/E): 5.3
• Beta (1Y): 0.91
• Revenue Growth: -3.48%
• EPS Growth: 615.20%
• Country: US
• Employees: 46
• Sector: Real Estate
• Sector Strength: 68
• Industry: REIT - Industrial
• EPS (TTM): 0.13
• Shares Outstanding: 45,547,897
• 10 Day Avg. Volume: 246,302
• 30 Day Avg. Volume: 342,498
• PEG Ratio: -16.43
• Price to Book (P/B): 1.30
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 7.91
• Enterprise Value/Market Cap: 0.98
• Enterprise Value/Revenue: 0.92
• Enterprise Value/Gross Profit: 5.47
• Enterprise Value/Ebitda: 0.94
• 1Y Price Target: $18.50
• Price Target Upside: 14.62% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8

• Rating: 78 Outperform
• Price Target: $18.50 ▲(14.62%Upside)

Plymouth Industrial REIT's overall score is driven by its strong financial performance and attractive valuation, indicating a solid investment opportunity. The positive earnings call and strategic board appointment further support its growth potential, despite some technical resistance.

Positive Factors

Dividend Yield

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

Market Position

Plymouth's market exposure in the current macro backdrop, bolstered by a 5.5% dividend yield, supports a higher multiple.

Rental Rate Growth

Leases that commenced saw a 19.4% increase in cash rental rates, with new leases up 30.2% and renewals up 12.6%.

Negative Factors

Financial Performance

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

Forward Guidance

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

Occupancy Risk

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 presents a strong financial position with impressive growth in revenue and net income, a balanced approach to debt management, and strong cash flow generation. These factors contribute to its solid standing in the REIT - Industrial industry, positioning it well for future growth and stability.

Income Statement

Plymouth Industrial REIT demonstrates strong and consistent revenue growth over recent years with a stable gross profit margin. The net profit margin has improved significantly from losses in earlier years to a healthy positive margin, indicating improved profitability. EBIT and EBITDA margins are robust, showcasing effective operational management and cost control.

Balance Sheet

The company maintains a moderate debt-to-equity ratio, reflecting a balanced approach to leveraging debt in its capital structure. Return on equity has seen improvement, indicating better earnings generation from equity. The equity ratio, while not extremely high, is stable, demonstrating a solid asset base against liabilities.

Cash Flow

Plymouth Industrial REIT shows a positive trend in operating cash flow, aligning with net income improvements. The free cash flow growth rate is positive, supporting potential reinvestments or debt reduction. The operating cash flow to net income ratio is healthy, indicating good cash flow generation relative to net income.

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
133.91M	136.64M	137.31M	126.94M	92.98M	71.69M
	EBIT
35.68M	36.14M	29.51M	15.54M	8.57M	4.90M
	EBITDA
262.68M	267.73M	142.79M	108.27M	75.34M	60.43M
	Net Income Common Stockholders
138.98M	139.34M	13.66M	-17.30M	-34.13M	-33.33M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
16.81M	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
871.46M	646.02M	872.55M	916.62M	690.14M	520.37M
	Net Debt
854.64M	628.47M	858.05M	905.62M	646.77M	504.70M
	Total Liabilities
945.28M	781.30M	953.66M	998.09M	767.29M	581.05M
	Stockholders Equity
484.57M	579.55M	483.02M	517.84M	498.68M	334.45M
Cash Flow		Free Cash Flow
95.07M	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: Neutral
• Last Price: 16.14
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PLYM, the sentiment is Neutral. The current price of 16.14 is above the 20-day moving average (MA) of 16.02, above the 50-day MA of 15.48, and below the 200-day MA of 18.14, indicating a neutral trend. The MACD of 0.24 indicates Positive momentum. The RSI at 55.11 is Neutral, neither overbought nor oversold. The STOCH value of 69.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for PLYM.

Plymouth Industrial Reit Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EGP	79 Outperform	$8.90B	37.05	7.61%	3.23%	11.92%	-0.83%
PLYM	78 Outperform	$745.82M	5.31	26.05%	5.92%	-3.48%	615.20%
STAG	77 Outperform	$6.78B	26.87	7.15%	4.17%	8.81%	33.30%
REXR	74 Outperform	$8.36B	28.69	3.35%	4.77%	18.02%	12.12%
FR	73 Outperform	$6.75B	24.55	10.18%	3.15%	9.18%	-7.05%
LXP	68 Neutral	$2.54B	43.94	2.98%	6.18%	5.68%	358.78%
Sector *	61 Neutral	$2.82B	10.77	0.50%	8439.01%	5.72%	-20.80%

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.

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.