Plymouth Industr Stock Price, News & Analysis

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.

Plymouth Industrial REIT, Inc. (NYSE: PLYM) announced a quarterly cash dividend of $0.46875 per share, totaling an annualized dividend of $1.875 per share for its 7.50% Series A Cumulative Redeemable Preferred Stock (PLYM-PrA). This dividend is payable on March 31, 2021 to stockholders on record by March 15, 2021.

Plymouth focuses on acquiring, managing, and developing industrial properties across the United States, serving key logistics and distribution markets.

Plymouth Industrial REIT (NYSE: PLYM) reported a net loss of $6.0 million or $(0.24) per share for Q4 2020, despite a total revenue increase to $30.0 million compared to $22.5 million in Q4 2019. The company achieved a same-store net operating income increase of 3.7% (cash basis). Rent collections for Q4 reached 99.6%, and the company successfully completed multiple acquisitions worth over $100 million. For 2021, guidance includes a projected Core FFO of $1.70 to $1.74 per share. A quarterly dividend of $0.20 per share for common stock was declared.

Plymouth Industrial REIT, Inc. (NYSE: PLYM) announced the upcoming release of its fourth-quarter earnings for the period ending December 31, 2020. The earnings release is set for February 26, 2021, before the market opens, followed by a conference call at 9:00 a.m. ET. Interested parties can join the call at (412) 717-9587, with a replay available until March 5, 2021. Plymouth focuses on acquiring and managing industrial properties, aiming to enhance shareholder value through strategic asset management.

Plymouth Industrial REIT, Inc. (NYSE: PLYM) has appointed John W. Guinee III as an independent director on its Board, contributing his extensive REIT experience. Guinee, formerly Managing Director at Stifel, brings insights from covering 40 REITs and serving as CIO at Duke Realty and Charles E. Smith Residential Realty. Chairman Jeff Witherell emphasized Guinee's unique perspective as critical to Plymouth's growth strategy. Guinee expressed enthusiasm about enhancing shareholder value through Plymouth's distinctive low basis investment strategy in the industrial sector.

Plymouth MIR JV LLC, a joint venture between Plymouth Industrial REIT (NYSE: PLYM) and Madison International Realty, has acquired a portfolio of 28 industrial buildings in the Memphis area for $86 million. The deal is expected to yield an initial return of approximately 7.7%. The acquisition was financed with $30 million in cash and a $56 million mortgage at a fixed interest rate of 3.15% over seven years. The properties, totaling 2.3 million square feet, are 96% leased to 53 tenants with an average lease term of 2.75 years.

Plymouth Industrial REIT, with ticker symbol PLYM, has declared a quarterly cash dividend of $0.20 per diluted share for Q4 2020, amounting to an annualized $0.80. This dividend is set for payment on January 29, 2021, to stockholders recorded as of December 31, 2020. The company focuses on acquiring and operating industrial properties across the U.S. to enhance shareholder value through active asset management and disciplined capital deployment.