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 Industr REIT (PLYM) provides investors with essential updates through this centralized news hub tracking all corporate developments. Access official press releases and verified news covering strategic initiatives, property acquisitions, and financial performance for this vertically integrated industrial real estate specialist.
This resource delivers timely updates on earnings reports, portfolio expansions, and management strategies critical for understanding PLYM's position in Class B industrial properties. Users gain insights into the REIT's operational focus on secondary markets and its active asset management approach to warehouse and distribution center investments.
Key updates include leasing activity, capital recycling programs, and market expansion efforts that shape the company's performance. Investors and analysts can monitor how PLYM's self-managed structure and disciplined capital allocation impact its diversified industrial portfolio.
Bookmark this page for direct access to Plymouth Industr's verified announcements, eliminating the need to aggregate information from multiple sources. Check regularly for updates reflecting the REIT's ongoing commitment to industrial property value creation and stakeholder transparency.
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.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) is set to release its first-quarter earnings on May 7, 2021, before the market opens. A conference call will follow at 9:00 a.m. Eastern Time, allowing the public to participate. Investors can access a replay until May 14, 2021. Plymouth Industrial REIT specializes in acquiring and managing industrial properties across the U.S., focusing on key distribution and logistics areas.
Plymouth Industrial REIT (NYSE: PLYM) reported strong leasing and acquisition activity for Q1 2021. The company achieved leases totaling 1,256,000 square feet with a 12.0% cash rental rate increase, addressing over 68% of 2021 lease expirations. Plymouth acquired five industrial buildings spanning 1.4 million square feet for $61.0 million, reflecting a weighted average price of $47 per square foot and a 7.7% initial yield. The total portfolio was 96.6% occupied with a 99.0% rent collection rate, maintaining consistency with historical trends.
Plymouth Industrial REIT (NYSE: PLYM) has declared a quarterly cash dividend of $0.20 per diluted share, amounting to an annualized dividend of $0.80. This dividend will be payable on April 30, 2021, to stockholders on record as of March 31, 2021. As a real estate investment trust, Plymouth focuses on acquiring and managing various industrial properties across the U.S., enhancing its portfolio in key markets.
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