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. was a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single- and multi-tenant industrial properties. Company news has centered on portfolio activity, leasing and acquisition updates, operating and financial results, FFO and AFFO measures, common-stock dividends and tax treatment of distributions.
Later updates also addressed capital-structure matters, shareholder voting items and the completed merger in which PIR Industrial REIT LLC became successor by merger to Plymouth Industrial REIT. The company's public-company history includes NYSE-listed common stock under PLYM and subsequent corporate-status disclosures following the merger.
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Plymouth Industrial REIT (NYSE: PLYM) has achieved significant sustainability milestones by receiving Green Globes certification for all four projects in its development program. This certification underscores its commitment to enhancing building operations and reducing carbon emissions. Plymouth has reported that three projects received a Two Green Globes ranking, while a fourth achieved Three Green Globes. The company also highlighted investments in LED lighting, cool roofs, and solar power installations, which have positively impacted both operational efficiency and tenant satisfaction. Notably, Plymouth's environmental initiatives account for approximately 44% of its portfolio utilizing LED lighting, contributing to an 8% reduction in total electricity consumption.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) has announced a quarterly cash dividend of $0.46875 per share, equating to an annualized amount of $1.875 per share for its 7.50% Series A Cumulative Redeemable Preferred Stock (PLYM-PrA). This dividend is scheduled for payment on March 31, 2023, to stockholders recorded by March 15, 2023. As a vertically integrated real estate investment company, Plymouth focuses on acquiring and managing single and multi-tenant industrial properties, delivering functional and safe spaces for tenants.
Plymouth Industrial REIT (NYSE: PLYM) announced its fourth-quarter 2022 results, reporting a net loss of $(0.11) per share, improving from $(0.23) in Q4 2021. Core FFO was $0.44, down from $0.46, while AFFO increased by 7.7% to $0.42 per share. Total revenues rose to $47.3 million, a 18.4% increase year-over-year. The company declared a dividend increase of 2.3%, raising the quarterly payout to $0.225 per share starting Q1 2023. Guidance for FY 2023 suggests a net loss range of $(0.13) to $(0.11) per share, with Core FFO projected at $1.84 to $1.86.
Plymouth Industrial REIT (NYSE: PLYM) has announced the tax treatment for its 2022 dividends to common stockholders, reporting a total cash distribution of $0.87 per share. This includes ordinary dividends of $0.584743 and a return of capital of $0.285257 per share. Key payment dates were highlighted, with the last payment made on January 3, 2023. The company also encourages stockholders to consult tax advisors regarding the effects of dividends. This communication is part of Plymouth's commitment to transparency and shareholder engagement.
Plymouth Industrial REIT (NYSE: PLYM) announced its fourth-quarter leasing activity and earnings call scheduled for February 23, 2023. The company reported an impressive 18.5% increase in rental rates and a 99.0% occupancy rate for 2022, up from 97.4% in 2021. In Q4 alone, leases totaled 2,298,606 square feet, with an 18.1% increase in rental rates. Over 40% of 2023 lease expirations have already been addressed. Plymouth aims to sustain organic growth through leasing, alongside the launch of their development program.