Plymouth Industrial Reit (PLYM) AI Stock Analysis

• Market Cap: $1.02B
• Dividend Yield: 4.36%
• Average Volume (3M): 1.31M
• Price to Earnings (P/E): 11.3
• Beta (1Y): 0.75
• Revenue Growth: -4.99%
• EPS Growth: 10123.98%
• Country: US
• Employees: 46
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Industrial
• EPS (TTM): -1.23
• Shares Outstanding: 44,551,163
• 10 Day Avg. Volume: 952,357
• 30 Day Avg. Volume: 1,307,577
• PEG Ratio: <0.01
• Price to Book (P/B): 1.38
• Price to Sales (P/S): 4.04
• P/FCF Ratio: 8.34
• Enterprise Value/Market Cap: 1.84
• Enterprise Value/Revenue: 9.84
• Enterprise Value/Gross Profit: 14.12
• Enterprise Value/Ebitda: 8.69
• 1Y Price Target: $22.40
• Price Target Upside: 1.31% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 6
• EPS Forecast (FY): -0.33
• Revenue Forecast (FY): $196.39M

• Rating: 72 Outperform
• Price Target: $24.50 ▲(10.81% Upside)

Plymouth Industrial REIT's overall score is driven by strong technical indicators and an attractive valuation, supported by positive earnings call insights. Financial performance shows mixed results, with high leverage and revenue growth challenges being notable risks.

Positive Factors

Strong Leasing Activity

The company's ability to lease significant square footage demonstrates strong demand for its properties, supporting stable revenue streams and enhancing long-term occupancy rates.

Significant Acquisitions

Strategic acquisitions at favorable yields position the company for future growth, enhancing its asset portfolio and potential rental income.

Strong Balance Sheet

A robust balance sheet with significant credit line availability provides financial flexibility for future investments and operational stability.

Negative Factors

High Leverage

High leverage can increase financial risk, potentially impacting the company's ability to invest in growth opportunities and manage economic downturns.

Lease Renewal Risks

Challenges in lease renewals could lead to decreased occupancy and revenue, affecting long-term financial performance and tenant retention.

Market Rent Challenges

Slower market rent growth may limit revenue potential, affecting profitability and the ability to capitalize on market opportunities.

Plymouth Industrial Reit Business Overview & Revenue Model

Company Description

Plymouth Industrial REIT (PLYM) is a real estate investment trust focused on the acquisition, ownership, and operation of industrial properties across the United States. The company primarily targets logistics and warehouse facilities that cater to e-commerce and third-party logistics sectors, capitalizing on the growing demand for distribution space driven by changing consumer behaviors. Plymouth aims to provide its investors with attractive risk-adjusted returns through a diversified portfolio of high-quality industrial assets located in key markets.

How the Company Makes Money

Plymouth Industrial REIT generates revenue primarily through leasing its industrial properties to tenants. The company leases space under long-term agreements, which provides a stable and predictable income stream. Key revenue streams include rental income from property leases and ancillary income from services related to property management. The company benefits from a diversified tenant base, reducing reliance on any single tenant, and focuses on properties located in areas with strong demand for logistics and distribution. Additionally, strategic acquisitions of properties in high-growth markets further enhance its earnings potential. Partnerships with logistics firms and e-commerce companies play a significant role in driving occupancy rates and rental income, contributing positively to the company's financial performance.

Plymouth Industrial Reit Financial Statement Overview

Summary

Plymouth Industrial REIT shows strengths in gross profit margins and cash flow management. However, challenges with revenue growth and high leverage pose risks to future profitability and financial stability.

Income Statement

Plymouth Industrial REIT shows a mixed performance in its income statement. The company has a strong gross profit margin consistently above 68%, indicating effective cost management. However, the net profit margin has seen significant fluctuations, with a notable decline in the TTM period. Revenue growth has been inconsistent, with a recent decline of 36.9% in the TTM period, which is concerning. The EBIT margin is negative in the TTM period, reflecting operational challenges.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio, peaking at 1.81 in 2023, indicating significant leverage. This poses a risk, especially with fluctuating net income. Return on equity has improved to 24.75% in the TTM period, showing better utilization of equity. However, the equity ratio remains moderate, suggesting a balanced asset financing approach.

Cash Flow

Cash flow analysis shows a stable operating cash flow to net income ratio, consistently around 1.0, indicating strong cash generation relative to net income. Free cash flow growth has been volatile, with a recent decline of 4.03% in the TTM period. Despite this, the company maintains a solid free cash flow to net income ratio, reflecting efficient cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	191.51M	198.35M	199.85M	183.54M	140.62M	109.85M
Gross Profit	133.42M	136.64M	137.31M	126.94M	92.98M	71.69M
EBITDA	216.77M	267.73M	142.79M	110.43M	75.34M	60.43M
Net Income	92.81M	139.34M	13.66M	-16.89M	-15.01M	-33.33M
Balance Sheet
Total Assets	1.57B	1.37B	1.44B	1.52B	1.27B	920.27M
Cash, Cash Equivalents and Short-Term Investments	15.82M	17.55M	14.49M	11.00M	26.23M	15.67M
Total Debt	846.23M	646.02M	872.55M	916.62M	690.14M	520.37M
Total Liabilities	1.02B	781.30M	953.66M	998.09M	767.29M	581.05M
Stockholders Equity	470.06M	579.55M	483.02M	517.84M	498.68M	334.45M
Cash Flow
Free Cash Flow	94.60M	96.07M	81.87M	72.23M	32.63M	35.68M
Operating Cash Flow	101.00M	96.07M	81.87M	72.23M	57.94M	41.74M
Investing Cash Flow	-111.49M	87.46M	-79.00K	-252.36M	-356.08M	-259.12M
Financing Cash Flow	18.91M	-166.11M	-86.80M	167.97M	309.46M	227.03M

Plymouth Industrial Reit Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 22.11
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• 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 22.11 is below the 20-day moving average (MA) of 22.15, above the 50-day MA of 21.97, and above the 200-day MA of 17.72, indicating a neutral trend. The MACD of 0.11 indicates Positive momentum. The RSI at 48.30 is Neutral, neither overbought nor oversold. The STOCH value of 52.82 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
LXP	78 Outperform	$2.88B	25.66	5.62%	5.54%	6.98%	465.32%
REXR	77 Outperform	$9.64B	29.17	4.03%	4.10%	10.27%	15.25%
STAG	75 Outperform	$7.36B	30.44	7.17%	3.78%	9.62%	31.08%
PLYM	72 Outperform	$1.02B	11.35	20.14%	4.36%	-4.99%	10123.98%
FR	68 Neutral	$7.85B	32.17	8.97%	3.05%	9.66%	-23.17%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
ILPT	50 Neutral	$367.96M	-4.11	-16.39%	2.17%	1.08%	14.30%

Plymouth Industrial Reit Corporate Events

Plymouth Industrial REIT Announces $2.1 Billion Acquisition

On October 24, 2025, Plymouth Industrial REIT announced a definitive merger agreement to be acquired by Makarora Management LP and Ares Alternative Credit funds for $2.1 billion in an all-cash transaction. This acquisition, which offers a 50% premium on Plymouth’s stock price as of August 18, 2025, is expected to close in early 2026, subject to shareholder and regulatory approvals. The merger will result in Plymouth becoming a private company, with its shares de-registered from the NYSE. The transaction is anticipated to provide significant value to shareholders and aligns with Makarora’s strategy of investing in industrial assets located near major U.S. population centers.

The most recent analyst rating on (PLYM) stock is a Hold with a $24.00 price target. To see the full list of analyst forecasts on Plymouth Industrial Reit stock, see the PLYM Stock Forecast page.

Plymouth Industrial REIT’s Earnings Call Highlights Robust Performance

Plymouth Industrial REIT’s recent earnings call highlights a robust operational performance, underscored by significant leasing activity and strategic acquisitions. Despite challenges in the big box market due to oversupply and limited new construction activity, the company’s overall performance remains strong, supported by a solid balance sheet.