Plymouth Industrial REIT stock reaffirmed at Market Outperform by Citizens JMP

Investing.com - Citizens JMP analyst Mitch Germain has reiterated a Market Outperform rating and $24.00 price target on Plymouth Industrial REIT (NYSE:PLYM), citing the company’s active second quarter performance. According to InvestingPro data, the stock currently trades at $14.37, suggesting significant upside potential to the analyst’s target. The company’s market capitalization stands at $640 million.

Plymouth REIT completed more than $200 million in new acquisitions in its target markets during the second quarter of 2025, along with 1.4 million square feet of leasing and share repurchase activity. The company’s Q2 earnings aligned with expectations, while full-year guidance was reaffirmed, suggesting earnings acceleration in the second half of 2025. InvestingPro analysis reveals management has been actively buying back shares, with revenue growth forecast at 3% for the fiscal year.

The industrial REIT maintains a constructive outlook on the investment landscape with a sizable pipeline under consideration and available capital from the Sixth Street strategic investment. Management has been aggressively addressing lease expirations despite a more selective leasing market resulting from recent policy shifts.

Citizens JMP noted that Plymouth’s focus on Midwest and Southeast markets, with an emphasis on smaller asset sizes, positions the company to outperform in the current environment. The firm’s $24 price target is based on 13 times current year earnings.

The stock currently trades at approximately 8 times 2025 estimated FFO per share, representing a significant discount to the broader industrial REIT sector’s multiple of about 16.5 times. Citizens JMP views this valuation as compelling, highlighting the company’s well-covered 6.68% dividend yield and potential benefits from a post-tariff environment. InvestingPro analysis indicates the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which provides deep-dive analysis of this and 1,400+ other US equities.

In other recent news, Plymouth Industrial REIT reported its second-quarter 2025 financial results, which showed a significant miss in earnings per share (EPS). The company posted an EPS of -$0.14, which was well below the expected $0.02, resulting in an EPS surprise of -800%. Despite this earnings shortfall, Plymouth Industrial’s revenue slightly exceeded expectations, coming in at $47.2 million compared to the forecasted $46.46 million. These figures highlight a mixed performance for the quarter, with revenue providing a slight positive note amidst the earnings miss. The market’s initial reaction to these results was notably positive. These developments are part of recent news surrounding the company. Investors and analysts will likely continue to monitor Plymouth Industrial’s performance closely in the upcoming quarters.

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