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) 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.