Plymouth Industr Stock Price, News & Analysis

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.

Plymouth Industrial REIT, Inc. (NYSE: PLYM) reported robust leasing and acquisition activities for Q2 2022, with 1,077,234 square feet of leases signed, including a 22.6% increase in rental rates. The company completed $48.9 million in acquisitions of industrial properties, with strong occupancy rates and projected yields ranging from 5.5% to 8.0%. Plymouth promotes Lyndon Blakesley to Chief Accounting Officer and plans to present at Nareit’s REITweek on June 8, 2022. Overall, the company's portfolio remains 96.3% occupied, indicating strong demand in the industrial real estate market.

Plymouth Industrial REIT (NYSE: PLYM) announced a quarterly cash dividend of $0.46875 per share, totaling $1.875 annually, for its 7.50% Series A Cumulative Redeemable Preferred Stock (PLYM-PrA). This dividend is scheduled for payment on June 30, 2022, to shareholders on record as of June 15, 2022. The company continues to focus on acquiring and managing industrial properties across the United States, reinforcing its commitment to delivering value to its investors.

Plymouth Industrial REIT (NYSE: PLYM) reported a net loss of $7.7 million, or $(0.21) per share, for Q1 2022, an increase from a loss of $6.4 million in Q1 2021. Consolidated revenues rose to $42.8 million, up from $31.9 million. Significant metrics include Core FFO of $0.47 per share and Adjusted FFO of $0.40. Same store NOI grew by 5.1% on a cash basis. The company acquired 40 industrial buildings totaling 3.7 million square feet for $204.1 million, enhancing its portfolio. The quarterly dividend was increased by 4.8% to $0.22 per share.