Welcome to our dedicated page for Plymouth Industr news (Ticker: PLYM), a resource for investors and traders seeking the latest updates and insights on Plymouth Industr stock.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on industrial properties, and its news flow reflects that focus. On this page, readers can review company-issued updates and other coverage relating to Plymouth’s acquisition activity, leasing performance, financial results and corporate transactions.
Recent news has highlighted Plymouth’s expansion through the purchase of industrial portfolios and single assets in markets such as Columbus, Cincinnati and Cleveland, Ohio, and the Atlanta, Georgia area. Releases describe the size of these portfolios in square feet, occupancy levels, remaining lease terms and initial net operating income yields, illustrating how the company evaluates and communicates the economics of new investments. Plymouth also regularly reports on leasing activity across its portfolio, including renewal and new leases, changes in rental rates on a cash basis and occupancy metrics for its same store and total portfolios.
Investors following PLYM news will also find quarterly earnings announcements, where Plymouth reports net income or loss attributable to common stockholders, net operating income, funds from operations and adjusted funds from operations, along with commentary on factors such as acquisitions, joint ventures and capital structure. The company’s updates have included details on share repurchase activity, use of its unsecured revolving credit facility and guidance ranges for key performance measures.
An important component of recent news is the Agreement and Plan of Merger with PIR Ventures LP and related entities. Plymouth’s announcements describe the agreed cash consideration per share, the expected timing of closing, the board’s unanimous approval and the intention for the company to become private and have its shares de-registered and removed from trading on the New York Stock Exchange if the transaction is completed. Visitors can use this news page to track developments related to the merger process, including proxy statement filings, litigation disclosures and other events described in the company’s communications. Bookmark this page to access a consolidated view of Plymouth Industrial REIT news and updates over time.
Plymouth Industrial REIT (NYSE: PLYM) reported a net loss of $7.4 million for Q2 2021, or $(0.25) per share, a slight increase from a $7.2 million loss a year earlier. Revenues rose to $32.9 million from $26.1 million. Despite a 2.6% increase in Same Store NOI on a GAAP basis, it decreased by 1.6% on a cash basis. The company acquired 4 buildings for $30.3 million and secured a $500 million unsecured credit facility, enhancing its financial position and operational flexibility. A quarterly cash dividend of $0.21 was declared, representing a 5% increase.
Plymouth Industrial REIT (NYSE: PLYM) reported robust leasing and acquisition activity for Q2 2021. The company achieved lease agreements for 1,605,000 square feet, with a notable 9.2% increase in rental rates. As of June 30, 2021, the portfolio occupancy stood at 96.2%. Plymouth also closed on acquisitions totaling approximately 230,000 square feet for $14.1 million, with an initial yield of 7.2%. The company's pipeline remains strong with $85 million in attractive acquisitions year-to-date.
Plymouth Industrial REIT (NYSE: PLYM) has declared a regular quarterly cash dividend of $0.46875 per share for its 7.50% Series A Cumulative Redeemable Preferred Stock (PLYM-PrA). This amounts to an annualized dividend of $1.875 per share. The dividend is scheduled for payment on June 30, 2021, to stockholders of record as of June 15, 2021. This announcement reflects the company's commitment to providing shareholder returns through consistent dividends.
Plymouth Industrial REIT (NYSE: PLYM) reported a net loss of $6.4 million for Q1 2021, equating to $(0.24) per share, an improvement from a loss of $7.6 million in Q1 2020. Total revenue rose to $31.9 million, up from $26.2 million year-over-year. Net operating income was $20.4 million, while Core Funds from Operations stood at $0.40 per share. The company collected 99.6% of its rent, though same store NOI decreased by 1.8%. They acquired 5 buildings for $61 million and announced a quarterly dividend increase to $0.21 per share for Q2 2021.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) has announced a 5% increase in its quarterly cash dividend, raising it from $0.20 to $0.21 per share. This translates to an annualized rate of $0.84 per common share. The dividend will be payable on July 30, 2021, to shareholders on record as of June 30, 2021. The Chairman and CEO, Jeff Witherell, attributed this increase to strong portfolio performance and solid market fundamentals, reaffirming the company's commitment to providing returns to its shareholders.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) has appointed Caitlin Murphy to its Board of Directors, effective April 5, 2021, expanding the board to eight members. Ms. Murphy, founder and CEO of Global Gateway Logistics, brings extensive logistics experience, having worked in various capacities across the industry. Chairman Jeff Witherell emphasized that her expertise aligns with the company's focus on logistics and supply chain operations, which are crucial for driving demand in their industrial markets.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) is set to release its first-quarter earnings on May 7, 2021, before the market opens. A conference call will follow at 9:00 a.m. Eastern Time, allowing the public to participate. Investors can access a replay until May 14, 2021. Plymouth Industrial REIT specializes in acquiring and managing industrial properties across the U.S., focusing on key distribution and logistics areas.
Plymouth Industrial REIT (NYSE: PLYM) reported strong leasing and acquisition activity for Q1 2021. The company achieved leases totaling 1,256,000 square feet with a 12.0% cash rental rate increase, addressing over 68% of 2021 lease expirations. Plymouth acquired five industrial buildings spanning 1.4 million square feet for $61.0 million, reflecting a weighted average price of $47 per square foot and a 7.7% initial yield. The total portfolio was 96.6% occupied with a 99.0% rent collection rate, maintaining consistency with historical trends.
Plymouth Industrial REIT (NYSE: PLYM) has declared a quarterly cash dividend of $0.20 per diluted share, amounting to an annualized dividend of $0.80. This dividend will be payable on April 30, 2021, to stockholders on record as of March 31, 2021. As a real estate investment trust, Plymouth focuses on acquiring and managing various industrial properties across the U.S., enhancing its portfolio in key markets.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) has appointed Anthony Saladino as Chief Accounting Officer. Saladino joined Plymouth in October 2020 as Senior VP of Accounting, bringing extensive experience from roles at AFIN and NYC REIT. His expertise is expected to enhance Plymouth's financial reporting and accounting functions. Additionally, Kimberly Maidment has been promoted to Director of ESG, focusing on environmental, social, and governance reporting. These leadership changes support Plymouth's growth strategy in the real estate market.