Plymouth Industr Stock Price, News & Analysis

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.

Plymouth Industrial REIT (NYSE: PLYM) has announced a quarterly cash dividend of $0.22 per share for Q4 2022, translating to an annualized rate of $0.88 per share. The dividend is payable on January 31, 2023, to shareholders of record as of December 30, 2022. Plymouth continues to focus on the acquisition and management of industrial properties, providing effective and safe spaces for tenants.

Plymouth Industrial REIT, Inc. (NYSE: PLYM) has declared a quarterly cash dividend of $0.46875 per share, amounting to an annualized dividend of $1.875 per share for its Series A Cumulative Redeemable Preferred Stock (PLYM-PrA) for Q4 2022. This dividend is scheduled to be paid on January 3, 2023, to shareholders of record on December 15, 2022. The company's focus remains on the acquisition, ownership, and management of industrial properties, aiming to provide cost-effective spaces for tenants.

Plymouth Industrial REIT (NYSE: PLYM) reported a net loss of $(0.19) per share for Q3 2022, with total revenues increasing to $47.8 million from $36.0 million in Q3 2021. Net Operating Income (NOI) rose to $33.3 million, and same-store NOI grew by 8.4% on a GAAP basis. The company declared a quarterly dividend of $0.22 for common stock and $0.46875 for preferred stock. Plymouth tightened its full-year guidance for Core FFO to a range of $1.82 to $1.84 per share, driven by higher occupancy rates and rental rates that increased by 17.6% during the quarter.

Plymouth Industrial REIT (NYSE: PLYM) reported significant leasing and acquisition activities for Q3 2022. The company signed leases totaling 2,552,339 square feet with projected cash rental rate increases of 17.6%. Its portfolio is 98.8% occupied. Plymouth acquired a 197,518-square-foot industrial property in Cleveland for $16.5 million. Additionally, 93% of its debt is fixed and the company sustained no damage from Hurricane Ian. A Q3 earnings call is scheduled for November 3, 2022.