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, 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.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) has declared a quarterly cash dividend of $0.46875 per share for its 7.50% Series A Cumulative Redeemable Preferred Stock (PLYM-PrA). The dividend, totaling an annualized amount of $1.875 per share, is set to be paid on December 31, 2020, to stockholders on record as of December 15, 2020.
The company is focused on acquiring and managing industrial properties to enhance shareholder value through strategic asset management and disciplined capital deployment.
Plymouth Industrial REIT (NYSE: PLYM) has successfully completed the acquisition of a 2.1 million square foot portfolio of industrial buildings in Akron and Canton, Ohio, at a cost of approximately $94 million. This portfolio consists of 10 buildings, 98% leased to 15 tenants across various sectors, with an expected annual yield of 7.5%. Following this acquisition, Plymouth's total industrial footprint in the Cleveland area has expanded to 3.6 million square feet and its total portfolio to 23.3 million square feet nationwide.
Plymouth Industrial REIT (NYSE: PLYM) has signed a definitive agreement to acquire a portfolio of 10 Class B industrial buildings in Akron and Canton, Ohio, totaling 2.1 million square feet for approximately $94 million. The acquisition, expected to close by November 30, 2020, will yield an annual current return of about 7.5%. The properties are nearly fully leased (98.7%) to 16 tenants across varied sectors, enhancing Plymouth's presence in the Cleveland market to over 3.5 million square feet and expanding its Ohio portfolio to over 7 million square feet.
Plymouth Industrial REIT (NYSE: PLYM) reported a net loss of $7.1 million for Q3 2020, equating to $(0.36) per share. Despite this loss, the company collected approximately 99.1% of its rent for the quarter. Net Operating Income (NOI) was $17.5 million, with Funds from Operations (FFO) of $0.42 per share. Recent acquisitions included five industrial buildings totaling 855,158 square feet for $51.1 million. The company also raised $104.5 million through an equity offering, improving its capital structure. Guidance for 2020 was reinstated, forecasting FFO between $1.83 and $1.85 per share.