Plymouth Industrial REIT, Inc. (PLYM)

In the past six months, Plymouth Industrial REIT's stock has experienced significant events, including a proposed acquisition and analyst rating changes, with a 55.62% price return. On October 24, 2025, Plymouth Industrial REIT announced a definitive merger agreement to be acquired by entities affiliated with Makarora Management LP and Ares Alternative Credit funds in an all-cash transaction valued at approximately $2.1 billion, including the assumption of debt, with the offer price of $22.00 per share representing approximately a 50% premium. Prior to the definitive agreement, Plymouth Industrial REIT received an unsolicited, non-binding acquisition proposal from Sixth Street Partners to acquire all outstanding shares at $24.10 per share. On September 15, 2025, Plymouth Industrial REIT declared a quarterly dividend of $0.24 per share for the third quarter of 2025, payable on October 31, 2025, and intends to limit future dividends to those needed to maintain REIT tax status during the agreement term. On August 6, 2025, the company reported its second-quarter results, with earnings per share (EPS) of $0.46, beating the consensus estimate of $0.43, and revenue for the quarter was $47.20 million, exceeding analysts' expectations of $46.20 million. Several analyst rating changes occurred, including Robert W. Baird cutting Plymouth Industrial REIT from an "outperform" rating to a "neutral" rating, BMO Capital Markets reducing their price target from $24.00 to $22.00 and setting a "market perform" rating, and Citizens JMP lowering Plymouth Industrial REIT from a "strong-buy" rating to a "hold" rating. The stock's 52-week range has been between $12.70 and $22.65, and as of October 23, 2025, the share price was $22.05, representing a 4.50% increase over the past year.

The provided information does not explicitly detail specific demand seasonality for Plymouth Industrial REIT's products and services, but general trends in the industrial REIT sector suggest that demand for industrial properties is often influenced by broader economic activity, e-commerce growth, and supply chain dynamics. The company's CFO noted in June 2022 that the markets in which Plymouth operates were strong, with healthy tenant demand driving robust leasing activity and elevating rents, indicating consistent demand at that time. Sustained demand from life sciences and manufacturing tenants seeking long-term commitments in supply-constrained secondary markets drives strong leasing activity and high tenant retention, while oversupply and debt pressures, along with advancements in logistics technology and rising environmental regulations, could potentially reduce tenant demand.

Plymouth Industrial REIT, Inc. (PLYM) is a vertically integrated and self-managed real estate investment trust (REIT) specializing in the acquisition, ownership, and management of single and multi-tenant industrial properties, focusing on distribution centers, warehouses, and light industrial properties in secondary and select primary markets across the United States. The company aims to enhance shareholder value through active asset management, property repositioning, and disciplined capital deployment.

Plymouth Industrial REIT's property portfolio is primarily spread across various states in the United States, including Florida, Ohio, Indiana, Tennessee, Illinois, and Georgia, focusing on secondary and select primary markets throughout the U.S.

Plymouth Industrial REIT's brand reputation in the past year appears to be stable, with a focus on its operational performance and strategic moves. The company has been recognized for healthy tenant demand driving robust leasing activity and elevating rents, and its core fundamentals have been described as strong. The company has experienced healthy tenant demand, leading to robust leasing activity and increased rents, and has reported strong financial outcomes, beating analyst estimates for EPS and revenue in Q2 2025. The company is focused on accretive growth, leveraging its balance sheet for potential asset sales, increased dividends, and strategic acquisitions, particularly in value-add opportunities, and has consistently declared quarterly dividends. The unsolicited acquisition proposal from Sixth Street Partners and the subsequent definitive merger agreement with Makarora Management LP and Ares Alternative Credit have put the company in the spotlight, and some analysts have downgraded the stock's rating from "outperform" or "strong-buy" to "neutral" or "hold" following the acquisition news and in light of a high-interest-rate environment.

Plymouth Industrial REIT (NYSE: PLYM) is primarily owned by institutional shareholders, who hold approximately 91.44% of the company's shares. Major institutional owners include Westwood Holdings Group Inc., Vanguard Group Inc., and BlackRock, Inc. Insiders own approximately 12.39% of Plymouth Industrial REIT, with Mirelf VI Reit Investments IV LLC being the largest individual shareholder, owning 4.47 million shares, representing 10.04% of the company. Over the past 24 months, insiders have purchased 11,000 shares and sold 563,438 shares.