Plymouth Industr Stock Price, News & Analysis

Plymouth Industrial REIT, Inc. (NYSE: PLYM) has declared a quarterly cash dividend of $0.21 per share for Q3 2021, translating to an annualized rate of $0.84 per share. This dividend will be payable on October 29, 2021, to stockholders on record as of September 30, 2021. The company focuses on acquiring and managing industrial properties across the U.S., including warehouses and distribution centers, targeting prime industrial corridors.

Plymouth Industrial REIT has announced a quarterly cash dividend of $0.46875 per share for its 7.50% Series A Cumulative Redeemable Preferred Stock (PLYM-PrA) for Q3 2021. This equates to an annualized dividend of $1.875 per share. The dividend will be payable on September 30, 2021, to shareholders on record as of September 15, 2021.

Plymouth Industrial REIT (NYSE: PLYM) has secured a combined $500 million unsecured credit facility, enhancing its borrowing capacity. This consists of an amended $200 million revolving credit facility, a $100 million amended term loan, and a new $200 million term loan. The facility offers the potential to increase total borrowing capacity up to $1 billion. The revolving credit facility matures in August 2025, while the new term loan matures in February 2027. The facility aims to provide flexibility and efficiency in funding growth, with improved borrowing costs.

Plymouth Industrial REIT (NYSE: PLYM) reported a net loss of $7.4 million for Q2 2021, or $(0.25) per share, a slight increase from a $7.2 million loss a year earlier. Revenues rose to $32.9 million from $26.1 million. Despite a 2.6% increase in Same Store NOI on a GAAP basis, it decreased by 1.6% on a cash basis. The company acquired 4 buildings for $30.3 million and secured a $500 million unsecured credit facility, enhancing its financial position and operational flexibility. A quarterly cash dividend of $0.21 was declared, representing a 5% increase.

Plymouth Industrial REIT (NYSE: PLYM) reported robust leasing and acquisition activity for Q2 2021. The company achieved lease agreements for 1,605,000 square feet, with a notable 9.2% increase in rental rates. As of June 30, 2021, the portfolio occupancy stood at 96.2%. Plymouth also closed on acquisitions totaling approximately 230,000 square feet for $14.1 million, with an initial yield of 7.2%. The company's pipeline remains strong with $85 million in attractive acquisitions year-to-date.

Plymouth Industrial REIT (NYSE: PLYM) has declared a regular quarterly cash dividend of $0.46875 per share for its 7.50% Series A Cumulative Redeemable Preferred Stock (PLYM-PrA). This amounts to an annualized dividend of $1.875 per share. The dividend is scheduled for payment on June 30, 2021, to stockholders of record as of June 15, 2021. This announcement reflects the company's commitment to providing shareholder returns through consistent dividends.

Plymouth Industrial REIT (NYSE: PLYM) reported a net loss of $6.4 million for Q1 2021, equating to $(0.24) per share, an improvement from a loss of $7.6 million in Q1 2020. Total revenue rose to $31.9 million, up from $26.2 million year-over-year. Net operating income was $20.4 million, while Core Funds from Operations stood at $0.40 per share. The company collected 99.6% of its rent, though same store NOI decreased by 1.8%. They acquired 5 buildings for $61 million and announced a quarterly dividend increase to $0.21 per share for Q2 2021.

Plymouth Industrial REIT, Inc. (NYSE: PLYM) has announced a 5% increase in its quarterly cash dividend, raising it from $0.20 to $0.21 per share. This translates to an annualized rate of $0.84 per common share. The dividend will be payable on July 30, 2021, to shareholders on record as of June 30, 2021. The Chairman and CEO, Jeff Witherell, attributed this increase to strong portfolio performance and solid market fundamentals, reaffirming the company's commitment to providing returns to its shareholders.

Plymouth Industrial REIT, Inc. (NYSE: PLYM) has appointed Caitlin Murphy to its Board of Directors, effective April 5, 2021, expanding the board to eight members. Ms. Murphy, founder and CEO of Global Gateway Logistics, brings extensive logistics experience, having worked in various capacities across the industry. Chairman Jeff Witherell emphasized that her expertise aligns with the company's focus on logistics and supply chain operations, which are crucial for driving demand in their industrial markets.