Plymouth Industrial REIT (PLYM) Stock

Plymouth Industrial REIT, Inc. is a strong industrial REIT with a durable business model, trading at a discounted AFFO multiple and well below NAV. Innovative Industrial Properties, Inc. faces significant tenant difficulties, with high rent per foot and risky tenant investment strategy leading to potential long-term vacancies or reduced rents. PLYM's tenant defaults are minor and have led to higher replacement rents, showcasing robust asset underwriting and a focus on quality real estate.

PLYM purchases the small bay industrial properties in Cincinnati well below replacement cost.

BOSTON, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced that its board of directors has declared a regular quarterly cash dividend of $0.24 per share of common stock for the fourth quarter of 2024. The dividend, which equates to an annualized rate of $0.96 per common share, is payable on January 31, 2025, to stockholders of record as of the close of business on December 31, 2024.

Despite some positive deals, Plymouth's high volatility, tenant issues, and underperformance compared to peers make it less attractive for income-seeking investors. Plymouth's smaller size makes it vulnerable to short-term shocks and outbidding by larger competitors, impacting its stability and growth potential. I rate PLYM stock as a Sell due to a Q3 earnings miss, size disadvantages, and better alternatives in the industrial REIT space.

Plymouth Industrial REIT, Inc. (NYSE:PLYM ) Q3 2024 Earnings Conference Call November 7, 2024 9:00 AM ET Company Participants Tripp Sullivan - Investor Relations Jeff Witherell - Chairman & Chief Executive Officer Anthony Saladino - Executive Vice President & Chief Financial Officer Jim Connolly - Executive Vice President, Asset Management Conference Call Participants Mitch Germain - Citizens JMP Rich Anderson - Wedbush John Kim - BMO Capital Markets Todd Thomas - KeyBanc Capital Markets Brendan Lynch - Barclays Anthony Howe - Truist Securities Operator Good morning, and welcome to the Plymouth Industrial REIT Conference Call to review the company's Results for the Third Quarter of 2024. All participants will be in listen-only mode.

BOSTON, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced its financial results for the third quarter ended September 30, 2024, and other recent developments.

BOSTON, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced it has entered into a $600 million amended and restated unsecured credit facility that provides expanded borrowing capacity, extended maturities and enhanced ability to pursue other unsecured debt.

Investors with an interest in REIT and Equity Trust - Other stocks have likely encountered both Plymouth Industrial (PLYM) and National Health Investors (NHI). But which of these two companies is the best option for those looking for undervalued stocks?

Investors interested in REIT and Equity Trust - Other stocks are likely familiar with Plymouth Industrial (PLYM) and National Health Investors (NHI). But which of these two companies is the best option for those looking for undervalued stocks?