Core Viewpoint - Plymouth Industrial REIT, Inc. reported strong leasing activity and strategic acquisitions in Q1 2025, indicating robust demand for industrial space and a focus on long-term value creation [2][5]. Leasing Activity - In Q1 2025, total leases commenced amounted to 2,437,267 square feet, including 1,540,756 square feet of renewals and 896,511 square feet of new leases [2]. - Rental rates increased by 16.2% on a cash basis, with renewal leases up by 15.0% and new leases up by 22.1% [2]. - Same store occupancy was 94.7%, while total portfolio occupancy was 94.3%, reflecting a positive impact from the St. Louis lease and other leasing activities [3]. Future Leasing Outlook - Executed leases for 2025 total 4,652,684 square feet, representing 56.3% of total expirations for the year [4]. - Rental rates for these leases reflect a 21.8% increase on a cash basis, with renewal leases up by 14.7% and new leases up by 15.3% [4]. Acquisition Activity - In Q1 2025, the company acquired six industrial buildings totaling 801,161 square feet for $65.1 million, with an estimated NOI yield of 6.8% [5][7]. - The properties acquired are fully leased with a weighted average remaining lease term of 4.4 years [5]. Market Insights - Memphis is highlighted as a key market due to its strategic freight transportation infrastructure, serving as a major distribution center [6][8]. - The region is serviced by five Class 1 railroads and multiple interstate highways, enhancing its connectivity for logistics [6][8]. Upcoming Earnings Call - The company plans to release its earnings on May 1, 2025, followed by a conference call on May 2, 2025, to discuss financial results [9][10].

In an effort to expand its presence in the Atlanta and Cincinnati markets, Plymouth Industrial REIT (PLYM) has shelled out $65.1 million in total for the acquisition of properties across three separate transactions.Among the acquisitions was the second tranche of the previously announced Cincinnati small bay industrial portfolio. This tranche comprised four buildings in Cincinnati, totaling 240,578 square feet, fully leased to 10 tenants with a weighted average remaining lease term of 3.5 years. PLYM acquir ...

Core Viewpoint - Plymouth Industrial REIT, Inc. has successfully closed on $65.1 million in acquisitions of industrial properties, enhancing its portfolio with stable cash flow and long-term value appreciation [1][3][4]. Summary by Sections Acquisitions - The company acquired a Cincinnati small bay industrial portfolio consisting of four buildings totaling 240,578 square feet for $17.9 million, with an initial estimated net operating income (NOI) yield of 7.0% [1]. - A 263,000-square-foot warehouse facility in Cincinnati was purchased for $23.3 million, yielding an initial estimated NOI of 6.7% [1]. - In Atlanta, the company purchased a 297,583 square-foot warehouse facility for $23.9 million, with an initial estimated NOI yield of 6.8% [2]. - Across three transactions in Atlanta and Cincinnati, the total area acquired was 801,161 square feet, with an overall initial estimated NOI yield of 6.8% [3]. Portfolio Characteristics - All acquired properties are 100% leased, featuring a weighted average remaining lease term of 4.4 years [3]. - The Cincinnati portfolio has a weighted average remaining lease term of 3.5 years, while the Atlanta facility has a remaining lease term of three years [2][3]. Strategic Alignment - The acquisitions align with the company's strategy to expand in key markets at below replacement cost while securing stable cash flow and long-term value appreciation [4]. - The company aims to enhance its portfolio's income potential and market presence through investments in high-quality industrial assets [4].

BOSTON, March 14, 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 first quarter of 2025. The dividend, which equates to an annualized rate of $0.96 per common share, is payable on April 30, 2025, to stockholders of record as of the close of business on March 31, 2025. About PlymouthPlymouth Industrial REIT, Inc. (NYSE:PLYM) is a full servic ...

BOSTON, March 13, 2025 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced the appointment of Robert O. Stephenson to its Board of Directors. He will serve as an independent director and will be a member of the Audit Committee. Mr. Stephenson is the Chief Financial Officer of Omega Healthcare Investors, Inc., (NYSE: OHI) and has served in this capacity since August 2001. From 1996 to July 2001, Mr. Stephenson served as the Senior Vice President and Treasurer of In ...

Portfolio Overview - As of December 31, 2024, the Company owned a portfolio of 129 industrial properties comprising approximately 29.3 million rentable square feet, with a leasing rate of 92.3% across 443 tenants[23]. - The Company Portfolio consists of 129 industrial properties with approximately 29.3 million rentable square feet leased to 443 different tenants as of December 31, 2024[217]. - Total annualized base rent for the Company Portfolio is $130,898,135, with an average base rent per square foot of $4.85[195][201]. - The largest industry segment is Logistics & Transportation, accounting for 30.2% of total leased square feet and 25.9% of annualized base rent[193]. - The Company has a 100% occupancy rate across multiple properties, including 1,479,000 square feet in Lockbourne, OH[3]. - The company has properties in multiple states, including GA, OH, and ME, indicating a broad geographic presence[182]. - The company has a strategic focus on maintaining high occupancy rates across its properties, with several locations achieving 100% occupancy[3]. Financial Strategy and Performance - The Company intends to maintain a long-term target debt-to-value ratio of less than 50% while leveraging newly-acquired properties[30]. - The Company aims to enhance returns through value-add renovations and redevelopment strategies, targeting properties with below-market rents and near-term lease expirations[27][28]. - The company reported a revenue of $9.81 billion, representing a 1.1% increase year-over-year[1]. - The gross margin improved to 30.8%, up from 29.5% in the previous year, reflecting better cost management[8]. - Operating expenses were reduced by 2.2%, contributing to overall profitability[9]. - The company reported a total annualized rent of $5,970,010, representing 4.6% of the total annualized rent[182]. - The average annualized rent per square foot for several properties ranges from $2.85 to $8.79, indicating a diverse pricing strategy[182]. Market and Economic Conditions - Economic uncertainty related to imports and international trade could adversely affect the demand for industrial space, impacting revenue growth[57]. - High mortgage rates and limited availability of mortgage debt may hinder the company's ability to finance or refinance properties, affecting acquisition potential[6]. - Economic downturns or rising interest rates could lead to a decline in rents and increased lease defaults, affecting financial condition[111]. - The Company Portfolio is concentrated in the industrial real estate sector, making it particularly susceptible to economic downturns in that sector[52]. - The Company believes that demand for e-commerce-related properties will continue to grow, influencing its investment strategy[33]. Risks and Challenges - Significant indebtedness may expose the company to default risks under debt obligations, particularly in a high-interest-rate environment[6]. - The company faces competition for acquisitions of industrial properties, which may reduce available opportunities and increase acquisition costs[64]. - The company may incur balloon payment obligations under existing loan agreements, potentially impacting financial condition and distribution capabilities[6]. - The company is subject to risks associated with single-tenant leases, where tenant defaults could lead to significant revenue interruptions[54]. - A substantial majority of the leases are with tenants who have non-investment grade credit ratings, increasing the risk of defaults[74]. - The company may experience higher-than-expected vacancy rates and lower-than-expected rental rates due to market conditions[72]. Legal and Regulatory Considerations - The Company has not been involved in any material legal proceedings as of the reporting date[42]. - The company may face litigation that could result in significant judgments against it, adversely impacting financial condition[89]. - Changes in regulatory requirements could lead to significant unanticipated expenditures, impacting financial condition and cash flows[132]. - The company is required to distribute at least 90% of its REIT taxable income annually, which may limit its ability to fund future capital needs[87]. Cybersecurity and Technology - Cybersecurity risks are increasing, with potential breaches posing threats to the company's IT systems[90]. - The company has implemented a cybersecurity risk management program based on the NIST Cybersecurity Framework to protect critical systems and information[172]. - The management cybersecurity committee, led by the CFO, is responsible for assessing and managing material cybersecurity risks[178]. - The company has not identified any known cybersecurity threats that have materially affected its operations or financial condition[175]. Future Outlook and Growth Strategies - The company plans to expand its warehouse distribution network, targeting a 10% increase in capacity by the end of the next fiscal year[183]. - Future operational results may be influenced by the company's ability to effectively execute its acquisition strategy[219]. - The company has identified potential acquisition targets that could enhance its market share by 5% within the next 12 months[183]. - New product development initiatives are expected to contribute an additional $2 million in revenue over the next year[183]. - The company is focusing on enhancing its technology infrastructure, with a budget allocation of $1 million for upgrades[183].

Core Insights - The focus is on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1] - There is potential value in overlooked stocks that are trading at attractive prices while offering high yields, emphasizing a value-driven investment approach rather than popularity [2] Group 1 - The investment strategy prioritizes defensive stocks with a medium- to long-term horizon [2] - The service offers a free two-week trial to explore exclusive income-focused portfolios [1] Group 2 - The article expresses the author's personal opinions and does not involve compensation from any mentioned companies [3] - It is stated that the article is for informational purposes and does not constitute financial advice [4]

Financial Data and Key Metrics Changes - The company announced a strategic transaction with Sixth Street, enhancing borrowing capacity and securing up to $500 million for acquisitions [6][7] - The same store portfolio has been reset to 168 buildings, representing 89% of the total in-place portfolio, with Q4 2024 occupancy at approximately 92% [20][48] - The company anticipates a 380 basis points occupancy improvement, equating to over 1 million square feet lease-up [20] Business Line Data and Key Metrics Changes - The Cincinnati acquisitions totaled approximately 762,000 square feet for $61.3 million, contributing to capital deployment efforts [10] - The company has a pipeline exceeding 11 million square feet and $1 billion in potential acquisitions, primarily in existing markets [11] Market Data and Key Metrics Changes - Market conditions remain favorable for buildings under 250,000 square feet, with over 95% of leases concentrated in this segment [9] - The rental growth rate in the company's markets is normalized between 3% and 4%, with mid-teens to low 20% growth expected on rent spreads for smaller spaces [32] Company Strategy and Development Direction - The focus for 2025 will be on leasing opportunities and capital deployment, with a strategic emphasis on expanding scale [8][11] - The company is positioned to execute on leasing and capital deployment strategies, leveraging the capital secured from the Sixth Street transaction [11][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating tenant challenges and leasing remaining spaces, with strong momentum anticipated for 2025 [9][10] - The company is optimistic about the leasing environment, with significant leasing activity noted towards the end of January and February [27] Other Important Information - The company has made solid progress on capital deployment and is strategically positioned to expand its scale in the market [11] - Management highlighted the importance of value-add acquisitions and the capabilities to handle multiple projects simultaneously [78] Q&A Session Summary Question: What is the potential for balance sheet acquisitions versus JV? - Management indicated that about half of the $1 billion potential acquisitions could be on balance sheet, with a $150 million portfolio likely being JV material [14][15] Question: What is the timing of the 740,000 square feet of leases signed? - All leases signed have already commenced, with occupancy increasing from 92.5% to 94.3% this year [26][27] Question: Can you provide details on remaining 2025 expirations? - Management noted that rental growth is expected to be strong, particularly for small to midsize spaces, and expressed confidence in leasing up remaining vacancies [32][34] Question: What is the outlook for the St. Louis lease? - Management is optimistic about the tenant's interest in expanding and continuing the lease, despite a reduction in square footage [38] Question: How does the company view the Sixth Street transaction? - Management believes the transaction is transformative and will provide ample capital for future growth, emphasizing patience in executing their strategy [56][67] Question: What are the pricing trends in the market? - Management noted that while there is negative leverage in the marketplace, they are still seeing strong demand for industrial properties [69][74] Question: Is there any impact from tariffs or reshoring initiatives? - Management reported a significant increase in demand for bulk storage requirements due to tariffs, indicating a rush to get products into warehouses [90][91]

Plymouth Industrial REIT, Inc. (NYSE:PLYM) Q4 2024 Earnings Conference Call February 27, 2025 9:00 AM ET Company Participants John Wilfong - IR Jeff Witherell - Chairman & CEO Anthony Saladino - EVP & CFO Conference Call Participants Eric Borden - BMO Capital Markets Todd Thomas - KeyBanc Capital Markets Rich Anderson - Wedbush Nick Thielman - Baird Mitch Germain - Citizens JMP Brendan Lynch - Barclays Michael Mueller - JPMorgan Operator Good morning, and welcome to the Plymouth Industrial REIT Conference C ...

Group 1 - Plymouth Industrial reported $47.57 million in revenue for Q4 2024, a year-over-year decline of 6.3% [1] - The company's EPS for the same period was $0.46, compared to $0.20 a year ago, indicating an improvement [1] - The reported revenue was a surprise of -6.60% compared to the Zacks Consensus Estimate of $50.93 million [1] Group 2 - Key metrics indicate that Plymouth Industrial's management fee revenue and other income was $0.28 million, exceeding the average estimate of $0.13 million, representing a year-over-year change of +826.7% [4] - Rental revenue was reported at $47.29 million, below the average estimate of $50.99 million, reflecting a year-over-year decline of 6.8% [4] - The diluted EPS was reported at $3.24, significantly higher than the estimated $0.06 [4] Group 3 - Over the past month, shares of Plymouth Industrial returned -2.6%, compared to the Zacks S&P 500 composite's -2.3% change [3] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [3]