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Plymouth Rises 47% on Receiving Acquisition Proposal From Sixth Street
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Key Takeaways
Plymouth rallied 47.06% after announcing a $24.10 per share cash acquisition proposal.
Sixth Street owns 9.99% of PLYM's stock, per a Schedule 13D filed with the SEC.
The board will review the offer with advisors; shareholders need not act at this time.
Plymouth Industrial REIT (PLYM - Free Report) recently announced that it has received an unsolicited, non-binding proposal from Sixth Street Partners, LLC, aimed at acquiring all of the outstanding shares of the company’s common stock for a cash consideration of $24.10 per share.
Shares of this industrial REIT witnessed a 47.06% rise in the regular trading session on the NYSE on Tuesday, following the announcement.
As per the Schedule 13D filed with the U.S. Securities and Exchange Commission, which discloses the proposal, Sixth Street beneficially owns approximately 9.99% of Plymouth's outstanding common stock.
In accordance with its fiduciary duties and following consultations with its financial and legal advisors, the company’s board of directors will thoroughly review the proposal to ascertain the course of action that it considers to be in the best interests of all Plymouth shareholders.
The company, which focuses on the acquisition, ownership and management of single- and multi-tenant industrial properties, noted that shareholders are not required to take any action at this time.
Plymouth, with its opportunistic acquisitions and healthy leasing activity, is well-positioned to benefit. However, macroeconomic uncertainties and tariff issues remain a major concern in the near term.
In the past three months, shares of this Zacks Rank #2 (Buy) company have rallied 36.7% against the industry's decline of 0.1%.
The Zacks Consensus Estimate for HST’s 2025 FFO per share has moved 4 cents northward to $1.95 over the past month.
The Zacks Consensus Estimate for WELL’s 2025 FFO per share has moved 2 cents upward to $5.06 over the past week.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
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Plymouth Rises 47% on Receiving Acquisition Proposal From Sixth Street
Key Takeaways
Plymouth Industrial REIT (PLYM - Free Report) recently announced that it has received an unsolicited, non-binding proposal from Sixth Street Partners, LLC, aimed at acquiring all of the outstanding shares of the company’s common stock for a cash consideration of $24.10 per share.
Shares of this industrial REIT witnessed a 47.06% rise in the regular trading session on the NYSE on Tuesday, following the announcement.
As per the Schedule 13D filed with the U.S. Securities and Exchange Commission, which discloses the proposal, Sixth Street beneficially owns approximately 9.99% of Plymouth's outstanding common stock.
In accordance with its fiduciary duties and following consultations with its financial and legal advisors, the company’s board of directors will thoroughly review the proposal to ascertain the course of action that it considers to be in the best interests of all Plymouth shareholders.
The company, which focuses on the acquisition, ownership and management of single- and multi-tenant industrial properties, noted that shareholders are not required to take any action at this time.
Plymouth, with its opportunistic acquisitions and healthy leasing activity, is well-positioned to benefit. However, macroeconomic uncertainties and tariff issues remain a major concern in the near term.
In the past three months, shares of this Zacks Rank #2 (Buy) company have rallied 36.7% against the industry's decline of 0.1%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks from the broader REIT sector are Host Hotels & Resorts (HST - Free Report) and Welltower (WELL - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for HST’s 2025 FFO per share has moved 4 cents northward to $1.95 over the past month.
The Zacks Consensus Estimate for WELL’s 2025 FFO per share has moved 2 cents upward to $5.06 over the past week.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.