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, 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.
Plymouth Industrial REIT (NYSE: PLYM) reported strong leasing and acquisition activity for Q1 2022. The company initiated leases totaling 1.3 million square feet, featuring a 16.7% cash rental rate increase. Its portfolio reached 97% occupancy. Plymouth acquired 38 industrial buildings for $188.4 million, with a weighted average yield of 6.2%. Notably, the acquisition included properties in prime locations with varying occupancy rates. Additionally, the company raised $17.2 million through its ATM program by issuing 614,800 shares at an average price of $28.43.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) has acquired Madison International Realty’s 80% interest in Plymouth MIR JV LLC for $46.6 million and assumed $56.0 million in secured debt. This transaction, valued at $102.6 million, aims to yield 6.6% over the next 12 months. The deal enhances Plymouth's footprint to 4.7 million square feet in Memphis, Tennessee, by adding 28 industrial buildings totaling 2.3 million square feet. Plymouth's management has successfully improved property conditions and tenant profiles since the acquisition.
Plymouth Industrial REIT (NYSE: PLYM) announced a quarterly cash dividend of $0.46875 per share, amounting to an annualized dividend of $1.875 per share, for its 7.50% Series A Cumulative Redeemable Preferred Stock (PLYM-PrA) for Q1 2022. The dividend is scheduled to be paid on March 31, 2022, to shareholders of record as of March 15, 2022. This declaration highlights the company’s commitment to returning value to shareholders.
Plymouth Industrial REIT (NYSE: PLYM) reported a net loss of $8.1 million for Q4 2021, or $(0.23) per share, despite a 33% revenue increase to $39.9 million. The company's net operating income (NOI) rose to $26.6 million, with same-store NOI up 4.4% on a GAAP basis. The firm acquired 15 buildings totaling 3.2 million square feet for $216.5 million, realizing a weighted average initial yield of 6.2%. A quarterly cash dividend of $0.21 was declared, with a 4.8% increase planned for Q1 2022. 2022 guidance indicates continued growth potential, despite the current net loss forecast of $(0.41) to $(0.36) per share.
Plymouth Industrial REIT (NYSE: PLYM) has announced a 4.8% increase in its quarterly cash dividend to $0.22 per share, reflecting strong growth in its portfolio. This adjustment translates to an annualized rate of $0.88 per share. The dividend will be payable on April 29, 2022, to stockholders of record as of March 31, 2022. Jeff Witherell, CEO, noted this increase marks the second consecutive year of dividend growth, driven by robust leasing and acquisition activity.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) is set to release its fourth-quarter and full-year results for 2021 on February 23, 2022, before market opening. The company will hold a conference call at 9:00 a.m. ET on the same day, which will be accessible to the public. The call will be available for replay until March 2, 2022. Plymouth focuses on acquiring and managing industrial properties across the U.S., including warehouses and distribution centers, primarily in key industrial corridors.
Plymouth Industrial REIT (NYSE: PLYM) announced the tax treatment for its 2021 dividends, providing essential details for common stockholders. Notable dividends include a total cash distribution of $0.82 per share for 2021, with ordinary dividends totaling $0.812788 per share and a return of capital of $0.007212 per share. Preferred stockholders received a cash distribution of $1.8750 per share. Stockholders are encouraged to consult tax advisors regarding the implications of these dividends, with more information available on their website.