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Plymouth Industrial REIT

AMEX:PLYM
Snowflake Description

Imperfect balance sheet unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PLYM
AMEX
$109M
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
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 last earnings update was 11 days ago. More info.


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PLYM Share Price and Events
7 Day Returns
-10%
AMEX:PLYM
1.8%
US REITs
-0.7%
US Market
1 Year Returns
5.8%
AMEX:PLYM
16.3%
US REITs
3%
US Market
PLYM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Plymouth Industrial REIT (PLYM) -10% 3.3% 7.6% 5.8% - -
US REITs 1.8% 2.4% 3.1% 16.3% 13.8% 26.4%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • PLYM underperformed the REITs industry which returned 16.3% over the past year.
  • PLYM outperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Plymouth Industrial REIT undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Plymouth Industrial REIT to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Plymouth Industrial REIT.

AMEX:PLYM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for AMEX:PLYM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (297.15%))
1.521
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.52
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.521 * 5.96%)
11.79%

Discounted Cash Flow Calculation for AMEX:PLYM using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Plymouth Industrial REIT is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Plymouth Industrial REIT is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

AMEX:PLYM DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 11.79%)
2019 11.83 Analyst x1 10.58
2020 13.38 Analyst x1 10.70
2021 13.89 Est @ 3.85% 9.94
2022 14.38 Est @ 3.52% 9.21
2023 14.85 Est @ 3.28% 8.51
2024 15.32 Est @ 3.12% 7.85
2025 15.78 Est @ 3% 7.23
2026 16.24 Est @ 2.92% 6.65
2027 16.70 Est @ 2.86% 6.12
2028 17.17 Est @ 2.82% 5.63
Present value of next 10 years cash flows $82.43
AMEX:PLYM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $17.17 × (1 + 2.73%) ÷ (11.79% – 2.73%)
$194.63
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $194.63 ÷ (1 + 11.79%)10
$63.83
AMEX:PLYM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $82.43 + $63.83
$146.26
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $146.26 / 6.32
$23.13
AMEX:PLYM Discount to Share Price
Calculation Result
Value per share (USD) From above. $23.13
Current discount Discount to share price of $17.18
= -1 x ($17.18 - $23.13) / $23.13
25.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Plymouth Industrial REIT is available for.
Intrinsic value
26%
Share price is $17.18 vs Future cash flow value of $23.13
Current Discount Checks
For Plymouth Industrial REIT to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Plymouth Industrial REIT's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Plymouth Industrial REIT's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Plymouth Industrial REIT's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Plymouth Industrial REIT's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AMEX:PLYM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-5.74
AMEX:PLYM Share Price ** AMEX (2019-05-17) in USD $17.18
United States of America REITs Industry PE Ratio Median Figure of 156 Publicly-Listed REITs Companies 32.79x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Plymouth Industrial REIT.

AMEX:PLYM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AMEX:PLYM Share Price ÷ EPS (both in USD)

= 17.18 ÷ -5.74

-2.99x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Plymouth Industrial REIT is loss making, we can't compare its value to the US REITs industry average.
  • Plymouth Industrial REIT is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Plymouth Industrial REIT's expected growth come at a high price?
Raw Data
AMEX:PLYM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.99x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
-13.9%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.4x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Plymouth Industrial REIT, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Plymouth Industrial REIT's assets?
Raw Data
AMEX:PLYM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $-2.95
AMEX:PLYM Share Price * AMEX (2019-05-17) in USD $17.18
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
AMEX:PLYM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AMEX:PLYM Share Price ÷ Book Value per Share (both in USD)

= 17.18 ÷ -2.95

-5.82x

* Primary Listing of Plymouth Industrial REIT.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Plymouth Industrial REIT has negative assets, we can't compare the value of its assets to the US REITs industry average.
X
Value checks
We assess Plymouth Industrial REIT's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Plymouth Industrial REIT has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Plymouth Industrial REIT expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-13.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Plymouth Industrial REIT expected to grow at an attractive rate?
  • Unable to compare Plymouth Industrial REIT's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Plymouth Industrial REIT's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.
  • Plymouth Industrial REIT's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
AMEX:PLYM Future Growth Rates Data Sources
Data Point Source Value (per year)
AMEX:PLYM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts -13.9%
AMEX:PLYM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 11.7%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
AMEX:PLYM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AMEX:PLYM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 67 -31 1
2019-12-31 66 -25 1
AMEX:PLYM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 54 15 -25
2018-12-31 49 15 -23
2018-09-30 44 13 -23
2018-06-30 39 12 -21
2018-03-31 32 8 -14
2017-12-31 25 8 -10
2017-09-30 22 -4 -4
2017-06-30 20 -3 -13
2017-03-31 20 0 -23
2016-12-31 20 0 -37
2016-09-30 19 4 -44
2016-06-30 19 0 -41

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Plymouth Industrial REIT is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Plymouth Industrial REIT's revenue is expected to grow by 11.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
AMEX:PLYM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Plymouth Industrial REIT Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:PLYM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31
2019-12-31
AMEX:PLYM Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -5.74
2018-12-31 -5.76
2018-09-30 -6.18
2018-06-30 -5.75
2018-03-31 -4.75
2017-12-31 -4.45
2017-09-30 -3.11
2017-06-30 -27.29
2017-03-31 -69.62
2016-12-31 -111.42
2016-09-30 -133.38
2016-06-30 -122.00

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Plymouth Industrial REIT will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Plymouth Industrial REIT's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Plymouth Industrial REIT has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Plymouth Industrial REIT performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Plymouth Industrial REIT's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Plymouth Industrial REIT does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Plymouth Industrial REIT's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Plymouth Industrial REIT's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
Plymouth Industrial REIT's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Plymouth Industrial REIT Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:PLYM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 54.00 -24.66 6.38
2018-12-31 49.22 -23.22 6.03
2018-09-30 43.77 -23.31 6.33
2018-06-30 38.78 -20.69 6.16
2018-03-31 31.76 -14.14 5.84
2017-12-31 24.82 -9.56 5.19
2017-09-30 21.77 -4.09 4.22
2017-06-30 20.17 -13.11 3.92
2017-03-31 19.99 -23.11 3.52
2016-12-31 19.89 -36.99 3.71
2016-09-30 19.44 -44.28 3.67
2016-06-30 19.21 -40.50 3.65
2016-03-31 19.20 -41.80 4.11
2015-12-31 19.21 -48.67 4.69
2015-09-30 17.10 -57.64 5.08
2015-06-30 12.38 -50.95 4.90
2015-03-31 7.65 -39.24 4.39
2014-12-31 2.84 -18.43 3.30
2014-09-30 -0.16 -3.56 2.68
2014-06-30 -0.30 -3.08 2.68
2014-03-31 -0.58 -3.23 2.65
2013-12-31 -0.59 -3.47 2.88
2013-09-30 -0.29 -3.49 3.14
2013-06-30 -0.24 -3.68 3.38
2013-03-31 -0.07 -2.78 2.65
2012-12-31 -0.09 -2.17 2.01

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Plymouth Industrial REIT has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Plymouth Industrial REIT has efficiently used its assets last year compared to the US REITs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Plymouth Industrial REIT improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Plymouth Industrial REIT's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Plymouth Industrial REIT has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Plymouth Industrial REIT's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Plymouth Industrial REIT's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Plymouth Industrial REIT's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Plymouth Industrial REIT's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Plymouth Industrial REIT's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Plymouth Industrial REIT Company Filings, last reported 1 month ago.

AMEX:PLYM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 121.24 322.83 5.17
2018-12-31 123.92 317.18 5.39
2018-09-30 48.96 280.76 5.97
2018-06-30 38.51 270.60 4.31
2018-03-31 48.31 247.75 6.38
2017-12-31 60.14 245.63 12.92
2017-09-30 18.24 169.20 6.47
2017-06-30 11.38 145.72 28.98
2017-03-31 -39.46 170.55 1.15
2016-12-31 -37.58 176.36 0.94
2016-09-30
2016-06-30
2016-03-31 -75.36 199.50 0.93
2015-12-31 -61.04 196.80 0.70
2015-09-30 -53.94 194.14 1.69
2015-06-30 -46.01 191.53 0.96
2015-03-31 -33.56 185.96 2.54
2014-12-31 -12.37 173.63 4.97
2014-09-30 3.69 2.00 0.18
2014-06-30 4.93 0.00 0.35
2014-03-31 5.34 0.00 0.63
2013-12-31 4.96 0.00 0.27
2013-09-30 5.15 0.00 4.18
2013-06-30 1.80 0.00 0.62
2013-03-31 1.56 0.00 0.18
2012-12-31 1.41 0.00 0.17
  • Plymouth Industrial REIT's level of debt (266.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 266.3% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Plymouth Industrial REIT has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Plymouth Industrial REIT has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -94.6% per year.
X
Financial health checks
We assess Plymouth Industrial REIT's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Plymouth Industrial REIT has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Plymouth Industrial REIT's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
8.73%
Current annual income from Plymouth Industrial REIT dividends. Estimated to be 8.86% next year.
If you bought $2,000 of Plymouth Industrial REIT shares you are expected to receive $175 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Plymouth Industrial REIT's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Plymouth Industrial REIT's dividend is above the markets top 25% of dividend payers in United States of America (3.69%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
AMEX:PLYM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

AMEX:PLYM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 1.55 2.00
2019-12-31 1.50 2.00
AMEX:PLYM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-14 1.500 8.660
2018-12-14 1.500 10.224
2018-09-14 1.500 10.930
2018-06-14 1.500 9.461
2018-03-15 1.500 8.766
2017-12-15 1.500 8.541
2017-09-14 1.500 8.279
2017-06-26 1.500 8.389

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Plymouth Industrial REIT has been paying a dividend for less than 10 years.
  • Plymouth Industrial REIT has only been paying a dividend for 2 years, and since then there has been no growth.
Current Payout to shareholders
What portion of Plymouth Industrial REIT's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Plymouth Industrial REIT's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Plymouth Industrial REIT afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Plymouth Industrial REIT has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Plymouth Industrial REIT's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jeff Witherell
COMPENSATION $503,487
AGE 53
TENURE AS CEO 8.2 years
CEO Bio

Mr. Jeffrey Earle Witherell, also known as Jeff, served as the Chief Executive Officer and President of Plymouth Realty Capital Corp. until November 2018 and has been its Director since July 31, 2013. He, along with Mr. White, formed Plymouth Industrial REIT in 2011. From April 2008 to 2011, Mr. Witherell was engaged in the formation and operation of Plymouth Group Real Estate and Plymouth Real Estate Capital LLC, a FINRA registered broker/dealer. Mr. Witherell has been the Chief Executive Officer and Chairman of the Board at Plymouth Opportunity REIT Inc. since March 2011. He has also been the Chief Executive Officer and Chairman of the Board of Plymouth Opportunity REIT's advisor, Plymouth Real Estate Investors since its formation in August 2009. He is the sole owner of Plymouth Real Estate Capital. He oversees all aspects of Plymouth Opportunity REIT's advisor and Plymouth Opportunity REIT's advisor's business activities, including the acquisition, management and disposition of assets. Mr. Witherell has been involved in real estate and investment sales for over 25 years. He co-formed Plymouth Group Real Estate, LLC in July 2009 and formed Plymouth Real Estate Capital in September 2009. From 1996 to 1999, Mr. Witherell was Chief Operating Officer at GAP LP, where he was responsible for the acquisition and subsequent development of several real estate investments. He founded Devonshire Development, Inc. and served as its President from 1994 to 1996. From 1990 to 1994, he was Vice President of property management at New Boston Management, Inc., and was responsible for property management and property disposition services. From 1987 to 1990, he was Vice President of development for Kirkwood Development and was responsible for development and construction of twelve residential development projects. From 1982 to 1987, Mr. Witherell was employed at Dewsnap Engineering, where he was responsible for performing land surveying, permitting, design and construction management services. Prior to that, from April 2, 2000 to March, 2008, he was affiliated with Franklin Street Properties, Corp. and its wholly-owned broker dealer, FSP Investments LLC. Priorto joining Franklin Street, he spent 18 years in real estate investment and development and banking positions with responsibilities including acquisitions, development, marketing, mortgage banking, distressed situations and civil engineering. He has been a Director of Plymouth Opportunity REIT Inc. since March 2011. He is a member of several real estate organizations, including the Urban Land Institute (ULI). In addition, he holds FINRA Series 7, 63, 79 and Series 24 General Securities Principal licenses. He is a board member of AdventCare Inc., a Massachusetts based nonprofit organization that owns and operates skilled nursing facilities. Mr. Witherell graduated from Emmanuel College in Boston with a bachelor of science degree in business.

CEO Compensation
  • Jeff's compensation has been consistent with company performance over the past year.
  • Jeff's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Plymouth Industrial REIT management team in years:

8.1
Average Tenure
56
Average Age
  • The average tenure for the Plymouth Industrial REIT management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Jeff Witherell

TITLE
Chairman & CEO
COMPENSATION
$503K
AGE
53
TENURE
8.2 yrs

Pendleton White

TITLE
President
COMPENSATION
$417K
AGE
58
TENURE
8.2 yrs

Dan Wright

TITLE
Executive VP & CFO
COMPENSATION
$309K
AGE
69
TENURE
5 yrs

Tripp Sullivan

TITLE
Investor Relations
TENURE
2.3 yrs

Anne Hayward

TITLE
Senior VP & General Counsel
AGE
66
TENURE
8.2 yrs

James Connolly

TITLE
Senior Vice President of Asset Management
AGE
54
TENURE
8 yrs

Nancy Parziale

TITLE
Senior VP of Finance & Controller
AGE
49
Board of Directors Tenure

Average tenure and age of the Plymouth Industrial REIT board of directors in years:

3.1
Average Tenure
69
Average Age
  • The tenure for the Plymouth Industrial REIT board of directors is about average.
Board of Directors

Jeff Witherell

TITLE
Chairman & CEO
COMPENSATION
$503K
AGE
53
TENURE
8.2 yrs

Pendleton White

TITLE
President
COMPENSATION
$417K
AGE
58
TENURE
8.2 yrs

David Gaw

TITLE
Independent Director
COMPENSATION
$65K
AGE
66
TENURE
1.9 yrs

Richard DeAgazio

TITLE
Independent Director
COMPENSATION
$65K
AGE
72
TENURE
1.9 yrs

Martin Barber

TITLE
Independent Director
COMPENSATION
$65K
AGE
73
TENURE
4.3 yrs

Philip Cottone

TITLE
Independent Director
COMPENSATION
$60K
AGE
78
TENURE
1.9 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Plymouth Industrial REIT insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
13. Mar 19 Buy Jeffrey Witherell Individual 12. Mar 19 12. Mar 19 1,000 $15.33 $15,330
21. Dec 18 Buy Pendleton White Individual 19. Dec 18 19. Dec 18 1,000 $12.35 $12,350
21. Dec 18 Buy Richard DeAgazio Individual 19. Dec 18 20. Dec 18 500 $12.37 $6,153
21. Dec 18 Buy Daniel Wright Individual 19. Dec 18 19. Dec 18 800 $12.50 $10,000
06. Sep 18 Buy Jeffrey Witherell Individual 06. Sep 18 06. Sep 18 800 $15.42 $12,336
20. Aug 18 Buy Pendleton White Individual 16. Aug 18 16. Aug 18 500 $15.60 $7,800
X
Management checks
We assess Plymouth Industrial REIT's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Plymouth Industrial REIT has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

What Type Of Shareholder Owns Plymouth Industrial REIT, Inc.'s (NYSEMKT:PLYM)?

A look at the shareholders of Plymouth Industrial REIT, Inc. … With a market capitalization of US$98m, Plymouth Industrial REIT is a small cap stock, so it might not be well known by many institutional investors. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

Some Plymouth Industrial REIT (NYSEMKT:PLYM) Shareholders Are Down 13%

Plymouth Industrial REIT isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). … Plymouth Industrial REIT grew its revenue by 98% over the last year. … The share price drop of 13% over twelve months would be considered disappointing by many, so you might argue the company is getting little credit for its impressive revenue growth.

Simply Wall St -

How Much Of Plymouth Industrial REIT Inc (NYSEMKT:PLYM) Do Institutions Own?

The big shareholder groups in Plymouth Industrial REIT Inc (NYSEMKT:PLYM) have power over the company. … Taking a look at the our data on the ownership groups (below), it's seems that. … We can zoom in on the different ownership groups, to learn more about PLYM

Simply Wall St -

Investing In Plymouth Industrial REIT Inc (NYSEMKT:PLYM): What You Need To Know

Plymouth Industrial REIT Inc is a US$82.4m. … Check out our latest analysis for Plymouth Industrial REIT … This term is very common in the REIT investing world as it provides a cleaner look at its cash flow from daily operations by excluding impact of one-off activities or non-cash items such as depreciation.

Simply Wall St -

Plymouth Industrial REIT Inc (NYSEMKT:PLYM): Ex-Dividend Is In 2 Days, Should You Buy?

Have you been keeping an eye on Plymouth Industrial REIT Inc's (NYSEMKT:PLYM) upcoming dividend of US$0.38 per share payable on the 31 July 2018? … Let's take a look at Plymouth Industrial REIT's most recent financial data to examine its dividend characteristics in more detail. … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:

Simply Wall St -

Is Plymouth Industrial REIT Inc (PLYM) Still A Cheap Real Estate Stock?

Below, I will examine the sector growth prospects, and also determine whether PLYM is a laggard or leader relative to its real estate sector peers. … In the previous year, the industry saw growth of 0.39%, though still underperforming the wider US stock market. … If PLYM has been on your watchlist for a while, now may be the time to enter into the stock, if you like its ability to deliver growth and are not highly concentrated in the REIT industry.

Simply Wall St -

Company Info

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.

Details
Name: Plymouth Industrial REIT, Inc.
PLYM
Exchange: AMEX
Founded: 2011
$108,643,502
$90,648,328
6,323,836
Website: http://www.plymouthreit.com
Address: Plymouth Industrial REIT, Inc.
260 Franklin Street, Suite 700,
7th Floor,
Boston,
Massachusetts, 02110,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AMEX PLYM Common Stock NYSE MKT LLC US USD 09. Jun 2017
AMEX PLYM.PRA 7.50% PFD A NYSE MKT LLC US USD 20. Oct 2017
Number of employees
Current staff
Staff numbers
15
Plymouth Industrial REIT employees.
Industry
Industrial REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 02:59
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/10
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.