BOSTON, June 16, 2025 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced that its board of directors has declared a regular quarterly cash dividend of $0.24 per share of common stock for the second quarter of 2025. The dividend, which equates to an annualized rate of $0.96 per common share, is payable on July 31, 2025, to stockholders of record as of the close of business on June 30, 2025. About PlymouthPlymouth Industrial REIT, Inc. (NYSE: PLYM) is a full servic ...

Closed on $76.8 Million of Acquisitions Year-to-DateBOSTON, May 28, 2025 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced the acquisition of a 100,420-square-foot single-tenant warehouse facility in southwest Atlanta, GA for $11.7 million, representing an initial net operating income (“NOI”) yield of 6.95%. The property is fully leased through May 2030 to a leading consumer self-care products and solutions provider. The lease is triple net and features 3.0% ann ...

Plymouth Industrial REIT (PLYM) Q1 2025 Earnings Call May 02, 2025 09:00 AM ET Company Participants John Wilfong - Senior Vice PresidentJeffrey Witherell - Chairman & CEOJames Connolly - Executive Vice President of Asset ManagementAnthony Saladino - President and CFORich Anderson - Managing DirectorEric Borden - Vice President Conference Call Participants Todd Thomas - Managing Director & Equity Research AnalystNick Thillman - Senior Research AnalystMichael Mueller - Analyst Operator Please note today's eve ...

Plymouth Industrial REIT (PLYM) Q1 2025 Earnings Call May 02, 2025 09:00 AM ET Speaker0 Please note today's event is also being recorded. I would now like to turn the conference call over to John Wilfong, Investor Relations. Sir, please go ahead. Speaker1 Thank you, and good morning. Welcome to the Plymouth Industrial REIT conference call to review the company's results for the first quarter of twenty twenty five. Yesterday afternoon, we issued our earnings release and posted a copy of our prepared commenta ...

For the quarter ended March 2025, Plymouth Industrial (PLYM) reported revenue of $45.57 million, down 9.3% over the same period last year. EPS came in at $0.44, compared to $0.14 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $47.51 million, representing a surprise of -4.07%. The company delivered an EPS surprise of -2.22%, with the consensus EPS estimate being $0.45.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wal ...

Plymouth Industrial (PLYM) came out with quarterly funds from operations (FFO) of $0.44 per share, missing the Zacks Consensus Estimate of $0.45 per share. This compares to FFO of $0.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of -2.22%. A quarter ago, it was expected that this company would post FFO of $0.46 per share when it actually produced FFO of $0.46, delivering no surprise.Over the last four quarters, the company has su ...

Financial Performance - Total revenues for Q1 2025 were $45.571 million, a decrease of 1.3% from $50.228 million in Q1 2024[10] - Rental revenue decreased to $45.418 million in Q1 2025, down 9.3% from $50.190 million in Q1 2024[10] - Net income attributable to common stockholders for Q1 2025 was $5.755 million, compared to $6.124 million in Q1 2024, reflecting a decline of 6.0%[10] - The company reported a comprehensive income of $2.404 million for Q1 2025, significantly lower than $11.973 million in Q1 2024[12] - Net income for the three months ended March 31, 2025, was $7,007,000, an increase of 11.4% compared to $6,286,000 for the same period in 2024[17] - Basic and diluted earnings per share attributable to common stockholders for Q1 2025 were both $0.13, down from $0.14 in Q1 2024[140] Assets and Liabilities - Total assets increased to $1.406 billion as of March 31, 2025, up from $1.368 billion at December 31, 2024, representing a growth of 2.8%[8] - Total liabilities rose to $827.321 million as of March 31, 2025, compared to $781.299 million at December 31, 2024, an increase of 5.9%[8] - The accumulated deficit improved to $(37.412) million as of March 31, 2025, compared to $(43.262) million at December 31, 2024[8] - The fair value of the warrant liability decreased from $(45,908,000) on December 31, 2024, to $(33,090,000) on March 31, 2025[39] - The fair value of interest rate swaps liability decreased from $(520,000) on December 31, 2024, to $(389,000) on March 31, 2025[39] Cash Flow and Investments - Net cash provided by operating activities decreased to $15,612,000 from $16,614,000, reflecting a decline of 6.0% year-over-year[17] - The company acquired real estate properties for $65,692,000 during the period, with net cash used in investing activities totaling $67,773,000, compared to $3,739,000 in the prior year[17] - Financing activities generated net cash of $52,056,000, a significant increase from a net cash used of $11,842,000 in the same period last year[17] - Cash paid for interest decreased to $6,127,000 from $9,337,000, indicating a reduction of 34.5% year-over-year[17] Real Estate and Properties - As of March 31, 2025, the company owned 133 industrial properties comprising 204 buildings with an aggregate of approximately 30.0 million square feet[20] - The total real estate properties, net, increased to $1,204,193,000 as of March 31, 2025, compared to $1,156,697,000 as of December 31, 2024, reflecting a growth of approximately 4.1%[58] - The company acquired four properties totaling 801,241 square feet for a total purchase price of $65,025,000 during the three months ended March 31, 2025[59] Joint Ventures and Investments - The company experienced a loss of $8.048 million in investments of unconsolidated joint ventures in Q1 2025, with no such loss reported in Q1 2024[10] - The carrying amount of the company's investment in the Isosceles Joint Venture was $52,108 as of March 31, 2025, with an initial investment of $356,641[65] - The company applies the equity method of accounting for investments in unconsolidated joint ventures, adjusting for earnings or losses and cash distributions[42] Dividends and Shareholder Returns - The company declared dividends of $11,110,000, compared to $10,938,000 in the previous year, reflecting an increase of 1.6%[17] - Cash dividends declared for the first quarter of 2025 were $0.2400 per share, totaling $10,964 thousand, consistent with the first quarter of 2024[110] Compensation and Equity - The Company recorded equity-based compensation expense related to restricted stock of $819 thousand for Q1 2025, up from $762 thousand in Q1 2024[134] - The Company recorded equity-based compensation expense related to Performance Stock Units (PSUs) of $315,000 for Q1 2025, compared to $152,000 for Q1 2024[138] - The balance of unvested Performance Stock Units at March 31, 2025, was 137,393 units, with a fair value per unit of $24.07[138] Compliance and Legal Matters - The company is in compliance with all respective financial covenants for its secured and unsecured debt as of March 31, 2025[89] - The Company has no material legal proceedings currently pending, evaluating potential losses as required[160]

FIRST QUARTER 2025 Plymouth REIT Supplemental Information Q1 2025 Supplemental | 1 Table of Contents Table of Contents | Executive Summary | 4 | | --- | --- | | Company Overview, Management, Board of Directors, and Investor Relations | 4 | | Portfolio Snapshot | 5 | | Total Acquisition and Replacement Cost by Market | 5 | | Acquisition Activity | 6 | | Development Projects | 7 | | Value Creation Examples | 8 | | Guidance | 9 | | Financial Information | | | Consolidated Balance Sheets | 11 | | Consolidated S ...

BOSTON, May 01, 2025 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (–“Plymouth” or the “Company”) today announced its financial results for the first quarter ended March 31, 2025 and other recent developments. First Quarter and Subsequent Highlights Reported results for the first quarter of 2025 reflect net income attributable to common stockholders of $0.13 per weighted average common share; Core Funds from Operations attributable to common stockholders and unit holders (“Core FFO”) of $0 ...

Core Insights - Plymouth Industrial REIT (PLYM) reported strong leasing activity and strategic portfolio expansion in Q1 2025, addressing 56.3% of its lease expirations for the year [1][4] Leasing Activity - In Q1 2025, leases commenced totaled 2,437,267 square feet, with 1,540,756 square feet from renewals and 896,511 square feet from new leases, reflecting a 9.6% increase in rental rates on a cash basis [2] - Executed leases for 2025 amounted to 4,652,684 square feet, with 3,731,230 square feet from renewals and 921,454 square feet from new leases, showing a 12.1% increase in rental rates on a cash basis [4] Portfolio Occupancy - As of March 31, 2025, total portfolio occupancy was 94.3%, with positive contributions from various leases and a same-store occupancy of 94.7% [3] Strategic Acquisitions - Plymouth expanded its portfolio by acquiring six industrial buildings for $65.1 million, achieving a weighted average initial estimated net operating income (NOI) yield of 6.8% and enhancing its presence in high-demand markets [5] Future Outlook - The company is positioned for long-term benefits due to healthy leasing activity and strategic acquisitions, with upcoming earnings release on May 1 and a conference call on May 2 for further insights [6]