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 its Q2 2024 financial results, highlighting net income of $0.03 per share, Core FFO of $0.48 per share, and AFFO of $0.49 per share. The company experienced a 3.3% increase in same-store NOI on a GAAP basis and a 9.7% increase on a cash basis. Leasing activity showed strong performance with an 18.8% increase in rental rates on new and renewal leases. Plymouth acquired a 14-building portfolio in Memphis for $100.5 million with an initial NOI yield of 8.0%. The company tightened its full-year 2024 guidance range for Core FFO and maintained its quarterly dividend of $0.24 per share.
Plymouth Industrial REIT (NYSE: PLYM) announced its leasing and development activity for Q2 2024. New leases totaled 1,811,939 sq ft, with an 18.8% increase in rental rates. Total occupancy was 97%, and same-store occupancy was 98.2%.
Leases scheduled to begin in 2024 total 4,654,825 sq ft, contributing to a 15.7% increase in rental rates. Plymouth is also focusing on its 769,500 sq ft industrial building in St. Louis, currently working with six prospects for leasing.
Development includes a fully leased 52,920 sq ft building in Jacksonville and a 154,692 sq ft industrial building in Cincinnati, which is close to being fully leased. Plymouth will hold its Q2 earnings call on August 1, 2024.
Plymouth Industrial REIT announced a quarterly cash dividend of $0.24 per share for Q2 2024. This brings the annualized dividend rate to $0.96 per share.
The dividend will be paid on July 31, 2024, to shareholders who hold the stock by June 28, 2024.
Plymouth Industrial REIT (NYSE: PLYM) announced that it will be presenting at Nareit's REITweek 2024 Investor Conference. The event is scheduled for Wednesday, June 5, 2024, from 11:00 a.m. to 11:30 a.m. ET.
Investors and interested parties can access the presentation via a webcast on Plymouth's investor relations website. This announcement aims to provide investors with insights into Plymouth's recent performance and future prospects.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) reported financial results for Q1 2024, with net income of $0.14 per share, Core FFO of $0.45 per share, and AFFO of $0.45 per share. The Company experienced a 2.9% SS NOI increase on a GAAP basis and a 7.0% increase on a cash basis. Lease commencements saw a 17.1% increase in rental rates. Completed 54,008 square feet of development leasing. Notable gain on sale of real estate. Increased dividend by 6.7%. Reaffirmed 2024 guidance for Core FFO. Positive outlook for 2024 with a focus on leasing, portfolio enhancement, and growth opportunities.
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