Plymouth Industr Stock Price, News & Analysis

Plymouth Industrial REIT (NYSE: PLYM) has received an unsolicited, non-binding acquisition proposal from Sixth Street Partners. The proposal offers to acquire all outstanding PLYM shares for $24.10 per share in cash consideration.

Sixth Street currently owns approximately 9.99% of Plymouth's outstanding common stock, as disclosed in their Schedule 13D filing. Plymouth's Board of Directors will evaluate the proposal with financial advisor KeyBanc Capital Markets and legal counsel Morrison & Foerster LLP to determine the best course of action for shareholders.

Plymouth Industrial REIT (NYSE: PLYM) reported its Q2 2025 financial results, showing mixed performance with notable acquisitions and leasing activity. The company posted a net loss of ($0.14) per share, while achieving Core FFO of $0.46 per share and AFFO of $0.44 per share.

Key highlights include a 6.7% increase in same-store NOI on a GAAP basis and significant acquisition activity, including 21 buildings across Ohio markets for $193.0 million and a single-tenant building in Atlanta for $11.7 million. The company demonstrated strong leasing momentum with 5.9 million square feet of executed leases for 2025, achieving a 13.6% increase in rental rates.

Plymouth has been active in capital management, repurchasing over 1 million shares at an average price of $16.23 and issuing 79,090 Series C Preferred Units for approximately $79.0 million in net proceeds. The company maintained its 2025 Core FFO guidance while updating other metrics.

Plymouth Industrial REIT (NYSE:PLYM) has released its Q2 2025 activity update, highlighting significant leasing momentum and strategic acquisitions. The company executed leases totaling 1.45 million square feet in Q2, achieving a 10.0% cash rent spread. For the full year 2025, Plymouth has executed leases for 5.81 million square feet, representing 67.5% of total 2025 expirations with a 13.0% cash rent spread.

The REIT completed notable acquisitions totaling 2.05 million square feet for $204.7 million, including a portfolio of 21 buildings across Ohio markets and an industrial building in Atlanta. The acquired properties are 97.1% leased with a 2.6-year weighted average lease term. The company maintains strong liquidity with $285.8 million available on its credit line and has repurchased 805,394 shares at an average price of $16.26.

Plymouth Industrial REIT (NYSE: PLYM) has acquired a substantial 1.95-million-square-foot industrial portfolio in Ohio for $193.0 million. The 21-building portfolio, located across Columbus, Cincinnati, and Cleveland, is 97% leased to 75 tenants with a 2.47-year weighted average lease term.

Key features include high clear heights, ample truck loading, updated lighting, and modern office finishes. The purchase price represents a 25%-plus discount to replacement cost, with current rents approximately 22% below market rates. This strategic acquisition expands Plymouth's Ohio presence to over 12 million square feet and will be managed by their Columbus office team.

Plymouth Industrial REIT (NYSE: PLYM) has announced a quarterly cash dividend of $0.24 per share for Q2 2025, maintaining its dividend policy. The dividend will be paid on July 31, 2025, to shareholders of record as of June 30, 2025. On an annualized basis, this dividend amounts to $0.96 per common share, demonstrating the company's commitment to providing regular returns to its shareholders.

Plymouth Industrial REIT (NYSE: PLYM) has acquired a 100,420-square-foot single-tenant warehouse facility in southwest Atlanta for $11.7 million, with an initial NOI yield of 6.95%. The modern facility, built in 2014, is fully leased through May 2030 to a consumer self-care products provider, featuring a triple net lease with 3.0% annual rent escalations.

The property includes tilt-wall construction, 30-foot clear heights, and 100% air conditioning/climate control. This acquisition expands Plymouth's Atlanta market presence to 15 buildings totaling approximately 2.5 million square feet. The company has closed on $76.8 million of acquisitions year-to-date, focusing on well-located, infill industrial assets at discounts to replacement cost.

Plymouth Industrial REIT (NYSE: PLYM) reported its Q1 2025 financial results, showing mixed performance. The company posted net income of $0.13 per share, Core FFO of $0.44 per share, and AFFO of $0.41 per share. Key highlights include a 9.6% increase in rental rates on new leases and a 1.1% increase in same-store NOI. During Q1, Plymouth acquired six industrial buildings totaling 801,241 square feet for $65.1 million in Cincinnati and Atlanta markets. The company maintained a strong leasing momentum with 4.9 million square feet of executed leases for 2025 showing a 12.2% increase in rental rates. Plymouth affirmed its 2025 Core FFO guidance of $1.85-$1.89 per share and announced a $90 million share repurchase program. The company's portfolio occupancy stood at 94.3% as of March 31, 2025.

Plymouth Industrial REIT (NYSE: PLYM) reported strong Q1 2025 leasing activity with 2.4M square feet of new leases, including 1.5M square feet of renewals and 896K square feet of new leases. Rental rates increased 16.2% on a cash basis (excluding St. Louis lease), with renewal leases up 15.0% and new leases up 22.1%.

The company achieved 94.3% total portfolio occupancy as of March 31, 2025. During Q1, Plymouth acquired six industrial buildings totaling 801,161 square feet for $65.1 million with a weighted average NOI yield of 6.8%. These properties are 100% leased with a 4.4-year weighted average remaining lease term.

For 2025, Plymouth has already secured leases for 4.65M square feet, representing 56.3% of total 2025 expirations, with rental rates showing a 21.8% increase on a cash basis (excluding St. Louis lease).

Plymouth Industrial REIT (NYSE: PLYM) has completed $65.1 million in acquisitions during Q1 2025, expanding its portfolio across Atlanta and Cincinnati. The transactions include:

1. Four buildings in Cincinnati (240,578 sq ft) for $17.9 million at 7.0% NOI yield, 100% leased to ten tenants

2. A Cincinnati warehouse (263,000 sq ft) for $23.3 million at 6.7% NOI yield, single-tenant with 3.25% annual rent increases

3. Madison International's 98% joint venture interest in Atlanta (297,583 sq ft) for $23.9 million at 6.8% NOI yield

The combined acquisitions total 801,161 square feet of industrial space, featuring 100% occupancy and a weighted average lease term of 4.4 years.