Plymouth Industrial REIT Balance Sheet Health

Financial Health criteria checks 1/6

Plymouth Industrial REIT has a total shareholder equity of $488.2M and total debt of $871.4M, which brings its debt-to-equity ratio to 178.5%. Its total assets and total liabilities are $1.4B and $953.7M respectively. Plymouth Industrial REIT's EBIT is $29.5M making its interest coverage ratio 0.8. It has cash and short-term investments of $36.2M.

Key information

178.5%

Debt to equity ratio

US$871.44m

Debt

Interest coverage ratio	0.8x
Cash	US$36.16m
Equity	US$488.24m
Total liabilities	US$953.66m
Total assets	US$1.44b

Recent financial health updates

No updates

Recent updates

Financial Position Analysis

Short Term Liabilities: PLYM's short term assets ($47.9M) do not cover its short term liabilities ($70.3M).

Long Term Liabilities: PLYM's short term assets ($47.9M) do not cover its long term liabilities ($883.3M).

Debt to Equity History and Analysis

Debt Level: PLYM's net debt to equity ratio (171.1%) is considered high.

Reducing Debt: PLYM's debt to equity ratio has reduced from 256% to 178.5% over the past 5 years.

Debt Coverage: PLYM's debt is not well covered by operating cash flow (9.4%).

Interest Coverage: PLYM's interest payments on its debt are not well covered by EBIT (0.8x coverage).

Plymouth Industrial REIT Balance Sheet Health

Financial Health criteria checks 1/6

Key information

Recent financial health updates

Recent updates

Plymouth Industrial REIT, Inc. to Report Q1, 2024 Results on May 01, 2024

Upcoming dividend of US$0.24 per share

Plymouth Industrial: Good Time To Accumulate This Undervalued REIT

Consensus EPS estimates upgraded to US$0.13 loss

Consensus EPS estimates fall by 54%

New major risk - Revenue and earnings growth

Plymouth Industrial REIT, Inc. has filed a Follow-on Equity Offering in the amount of $200 million.

New major risk - Financial position

Plymouth Industrial REIT, Inc. Declares Dividend for the First Quarter of 2024, Payable on April 30, 2024

Now 20% undervalued

Insufficient new directors

Forecast to breakeven in 2026

New major risk - Revenue and earnings growth

Plymouth Industrial REIT, Inc. to Report Q4, 2023 Results on Feb 22, 2024

Forecast to breakeven in 2026

Plymouth Industrial: High Growth At A Low Price

Upcoming dividend of US$0.23 per share at 3.7% yield

PPlymouth Industrial REIT, Inc. Declares Dividend for the Fourth Quarter of 2023, Payable on January 31, 2024

Consensus EPS estimates upgraded to US$0.12 loss

Now 22% undervalued after recent price drop

New minor risk - Profitability

Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

Plymouth: Industrial Growth Without The Industrial Multiple

Plymouth Industrial REIT, Inc. to Report Q3, 2023 Results on Nov 02, 2023

Upcoming dividend of US$0.23 per share at 4.1% yield

An unknown Buyer acquired 306,552-square-foot industrial building in Chicago from Plymouth Industrial REIT, Inc. (NYSE:PLYM) for $19.9 million.

Plymouth Industrial REIT, Inc. Declares Dividend for the Third Quarter, Payable on October 31, 2023

Plymouth Industrial REIT: The Next Target In M&A?

Plymouth Industrial REIT, Inc. Affirms Earnings Guidance for the Full Year 2023

Second quarter 2023 earnings: EPS exceeds analyst expectations

Plymouth Industrial REIT, Inc. Announces Pen White Transitions from His Executive Role as President and Chief Investment Officer

Plymouth Industrial REIT, Inc. to Report Q2, 2023 Results on Aug 03, 2023

Upcoming dividend of US$0.23 per share at 4.0% yield

Plymouth Industrial REIT, Inc. Declares Cash Dividend for the Second Quarter of 2023, Payable on July 31, 2023

First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Now 22% undervalued after recent price drop

Full year 2022 earnings released: US$0.67 loss per share (vs US$0.94 loss in FY 2021)

Plymouth Industrial REIT Q4 2022 Earnings Preview

Plymouth Industrial: Value O' Plenty In Secondary Markets

Plymouth Industrial REIT, Inc. to Report Q4, 2022 Results on Feb 23, 2023

Now 21% undervalued

Plymouth Industrial posts solid rental rate, occupancy growth in 2022

Upcoming dividend of US$0.22 per share

Plymouth Industrial REIT, Inc. Declares Dividend for the Fourth Quarter of 2022, Payable on January 31, 2023

Plymouth Industrial REIT declares $0.22 dividend

Plymouth Industrial: A Rock Solid REIT With Double-Digit Rent Growth

Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Plymouth Industrial REIT, Inc. Revises Earnings Guidance for the Year 2022

Plymouth Industrial REIT Q3 2022 Earnings Preview

Price target decreased to US$23.50

Plymouth Industrial REIT, Inc. (NYSE:PLYM) acquired 197,518 Square Foot Single Tenant Industrial Building in Cleveland, Ohio for $16.5 million.

Plymouth Industrial REIT reports Q3 leases of 2.6M sq. ft.

Upcoming dividend of US$0.22 per share

Plymouth Industrial REIT, Inc. Declares Dividend for the Third Quarter of 2022, Payable on October 31, 2022

Plymouth Industrial REIT declares $0.22 dividend

Consensus forecasts updated

Plymouth Industrial REIT: Half The Price Of Its Peers With Similar Growth

Consensus forecasts updated

Plymouth Industrial: A Value REIT In The Industrials Sector

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

Plymouth Industrial REIT, Inc. (NYSE:PLYM) acquired Midwest Triangle Portfolio for $43.2 million.

Plymouth Industrial REIT, Inc. to Report Q2, 2022 Results on Aug 03, 2022

Price target decreased to US$26.00

Upcoming dividend of US$0.22 per share

Plymouth Industrial REIT, Inc. Declares Dividend for the Second Quarter of 2022, Payable on July 29, 2022

Plymouth Industrial REIT, Inc. (NYSE:PLYM) acquired Two Industrial Buildings Totaling 154,000 Sq Ft in Cincinnati and Cleveland, Ohio for $12.6 million.

As Overhang Is Removed, Plymouth's True Value Is Revealed

Consensus forecasts updated

First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Plymouth Industrial REIT, Inc. Provides Earnings Guidance for the Year 2022

Plymouth Industrial REIT, Inc., Annual General Meeting, Jun 30, 2022

Plymouth Industrial: Have Your Cake And Eat It Too

Plymouth Industrial REIT, Inc. to Report Q1, 2022 Results on May 04, 2022

Upcoming dividend of US$0.22 per share

Consensus EPS estimates fall by 12%