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 strong performance for Q4 2021, highlighted by significant leasing and acquisition activities. The company acquired 6.4 million square feet of industrial properties for $371 million in 2021, with Q4 acquisitions alone totaling 2.9 million square feet for $194.5 million. Leasing activity saw over 666,000 square feet leased in Q4, resulting in a 22.1% rental rate increase. The portfolio remains 97.4% occupied, with over 99.7% of rents collected. Additionally, Plymouth raised $51.8 million through share issuance in its ATM program.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) has declared a quarterly cash dividend of $0.21 per share for Q4 2021, totaling an annualized rate of $0.84. The dividend is payable on January 31, 2022, to stockholders on record by the end of December 31, 2021. Plymouth focuses on the acquisition and management of industrial properties across the U.S., including warehouses and distribution centers, primarily in key logistics corridors.
Plymouth Industrial REIT (NYSE: PLYM) has announced a succession plan for its Chief Financial Officer. Dan Wright will step down on February 25, 2022, but will remain as an advisor. Anthony Saladino, the current Chief Accounting Officer, will take over as CFO. CEO Jeff Witherell praised Wright's contributions to the company's growth and transformation since 2014, which included successful capital access strategies. Saladino brings experience from public accounting and has already improved financial reporting within the organization.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) has declared a quarterly cash dividend of $0.46875 per share, resulting in an annualized dividend of $1.875 for its 7.50% Series A Cumulative Redeemable Preferred Stock (PLYM-PrA). This dividend is payable on December 31, 2021, to stockholders of record on December 15, 2021. This financial decision underscores the company's commitment to returning value to its shareholders amidst ongoing operations in acquiring and managing industrial properties across the United States.
Plymouth Industrial REIT (NYSE: PLYM) will be added to the MSCI US REIT Index (RMZ) effective November 30, 2021. This index encompasses about 99% of the U.S. REIT universe and is weighted by free float-adjusted market capitalization. Plymouth’s inclusion highlights its focus on the ‘first mile to the last mile’ strategy in diverse industrial markets, providing increased visibility and access to the investment community, according to CEO Jeff Witherell.
Plymouth Industrial REIT reported a net loss of $7.1 million or $(0.22) per share for Q3 2021, unchanged from the same period last year. The company achieved net operating income (NOI) of $23.8 million and Core FFO of $0.43 per share. The occupancy rate is at 96.3%, with a same store NOI increase of 6.2% on a cash basis. Plymouth acquired 10 buildings for $218.5 million, enhancing its portfolio. The company issued 3.5 million common shares, raising $76.6 million, and closed a $500 million credit facility to support its growth strategy.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) announced its leasing and acquisition activities for Q3 2021, reporting significant growth. The company completed 5.6 million square feet of transactions worth $323.5 million. Q3 leasing totaled 1,538,268 square feet, with a cash basis rental rate increase of 9.7%. Occupancy reached 96.3%, with over 99.3% of rents collected. Recent acquisitions include four buildings totaling 1.8 million square feet for $101.5 million. The company plans to announce Q3 earnings on November 5, 2021.
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.