分组1 - Plymouth Industrial reported quarterly funds from operations (FFO) of $0.44 per share, missing the Zacks Consensus Estimate of $0.45 per share, and down from $0.45 per share a year ago, representing an FFO surprise of -2.22% [1] - The company posted revenues of $45.57 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 4.07%, and down from $50.23 million year-over-year [2] - Over the last four quarters, Plymouth Industrial has surpassed consensus FFO estimates just once and has topped consensus revenue estimates only once [2] 分组2 - Plymouth Industrial shares have lost about 16.5% since the beginning of the year, compared to the S&P 500's decline of -5.3% [3] - The current consensus FFO estimate for the coming quarter is $0.46 on revenues of $49.68 million, and for the current fiscal year, it is $1.87 on revenues of $197.41 million [7] - The Zacks Industry Rank for REIT and Equity Trust - Other is currently in the bottom 35% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [8]

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 ...

Core Insights - Plymouth Industrial REIT had a strong start to 2025 with robust leasing activity and the acquisition of $65 million in Class B industrial assets, positioning the company for future growth [3][4][5] - The company reported a net income of $5.8 million for Q1 2025, a slight decrease from $6.1 million in Q1 2024, primarily due to the deconsolidation of the Chicago Portfolio [4][5] - Total revenues for Q1 2025 were $45.6 million, down from $50.2 million in the same period last year [5] - The company affirmed its full-year 2025 guidance for Core FFO per share and updated its net income guidance [21][22] Financial Performance - Net income attributable to common stockholders for Q1 2025 was $5.8 million, or $0.13 per share, compared to $6.1 million, or $0.14 per share, in Q1 2024 [4][10] - Core Funds from Operations (Core FFO) for Q1 2025 was $20.1 million, or $0.44 per share, down from $20.6 million, or $0.45 per share, in Q1 2024 [9][10] - Adjusted Funds from Operations (AFFO) for Q1 2025 was $18.9 million, or $0.41 per share, compared to $20.5 million, or $0.45 per share, in Q1 2024 [10][44] - Net Operating Income (NOI) for Q1 2025 was $30.7 million, down from $33.5 million in Q1 2024, primarily due to the deconsolidation of the Chicago Portfolio [6][43] Leasing and Occupancy - Same store NOI increased by 1.1% on a GAAP basis for Q1 2025 compared to Q1 2024, with a cash basis increase of 2.0% [7][8] - Leases commencing in Q1 2025 totaled 2,437,267 square feet, with rental rates reflecting a 9.6% increase on a cash basis [17][19] - Total portfolio occupancy as of March 31, 2025, was 94.3%, with same store occupancy at 94.7% [18][19] Acquisition and Disposition Activity - The company acquired six industrial buildings totaling 801,241 square feet for $65.1 million, with a weighted average initial NOI yield of 6.8% [15][16] - Plymouth sold a 33,688-square-foot flex building in Memphis, TN, for $2.4 million, which was part of a portfolio acquired in July 2024 [15][16] Liquidity and Capital Markets - As of April 29, 2025, the company had a cash balance of approximately $8.0 million and $415.5 million capacity under its existing unsecured line of credit [12] - The board authorized a share repurchase program for up to $90 million of the company's outstanding common stock [7][12] Guidance for 2025 - The company updated its guidance for net income per weighted average common share and units, while affirming the Core FFO guidance range of $1.85 to $1.89 per share [21][22]

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]

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 ...