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.
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.
Plymouth Industrial REIT (NYSE: PLYM) has declared a regular quarterly cash dividend of $0.22 per share for Q3 2022. This dividend, amounting to an annualized rate of $0.88 per common share, is scheduled for payment on October 31, 2022, to shareholders on record as of September 30, 2022. Plymouth focuses on acquiring and managing industrial properties in major U.S. markets, including warehouses and distribution centers.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) has announced a quarterly cash dividend of $0.46875 per share, amounting to an annualized $1.875 per share, for its 7.50% Series A Cumulative Redeemable Preferred Stock (PLYM-PrA). This dividend will be payable on September 30, 2022, to shareholders recorded as of September 15, 2022. The company focuses on acquiring and managing industrial properties across the United States, enhancing its commitment to delivering value to shareholders.
Plymouth Industrial REIT (NYSE: PLYM) announced a balance sheet improvement through the early conversion of Series B Preferred Stock into approximately 1.9 million shares of common stock. This conversion, supported by Madison International Realty, simplifies the company's financials without increasing leverage. Plymouth also executed a $150 million interest rate swap, fixing rates on 95% of its debt. The company expects to meet its previously issued full-year 2022 guidance. CEO Jeff Witherell noted the strengthening of the balance sheet, while Madison expressed commitment to Plymouth's growth.
Plymouth Industrial REIT (NYSE: PLYM) reported a net loss of $(0.17) per share for Q2 2022, an improvement from $(0.25) in Q2 2021. Core FFO was $0.47 per share, up 14.6% year-over-year, with total revenue increasing to $45.6 million from $32.9 million. Same Store NOI rose 9.4% on a GAAP basis and 15.8% on a cash basis, reflecting strong leasing activity with a 22.2% increase in rental rates. The Company maintained its full-year guidance with Core FFO projected between $1.80 and $1.85 per share, while addressing 92% of lease expirations for 2022.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) reported robust leasing and acquisition activity for Q2 2022, highlighting a record 1.48 million square feet leased, with a 22.1% cash rental rate increase. The company acquired five industrial buildings, totaling 464,449 square feet for $48.9 million, and an additional Cleveland property for $16.5 million, achieving initial yields of 5.7% and 6.25%, respectively. Their portfolio occupancy stands at 97.3%. An earnings call is scheduled for August 3, 2022, to discuss these developments further.
Plymouth Industrial REIT (NYSE: PLYM) has declared a quarterly cash dividend of $0.22 per share for Q2 2022. This dividend, representing an annualized rate of $0.88 per common share, is set to be paid on July 29, 2022, to stockholders on record as of June 30, 2022. The company continues to focus on acquiring, owning, and managing industrial properties in key U.S. markets.