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) reported strong Q1 2025 leasing activity with 2.4M square feet of new leases, including 1.5M square feet of renewals and 896K square feet of new leases. Rental rates increased 16.2% on a cash basis (excluding St. Louis lease), with renewal leases up 15.0% and new leases up 22.1%.
The company achieved 94.3% total portfolio occupancy as of March 31, 2025. During Q1, Plymouth acquired six industrial buildings totaling 801,161 square feet for $65.1 million with a weighted average NOI yield of 6.8%. These properties are 100% leased with a 4.4-year weighted average remaining lease term.
For 2025, Plymouth has already secured leases for 4.65M square feet, representing 56.3% of total 2025 expirations, with rental rates showing a 21.8% increase on a cash basis (excluding St. Louis lease).
Plymouth Industrial REIT (NYSE: PLYM) has completed $65.1 million in acquisitions during Q1 2025, expanding its portfolio across Atlanta and Cincinnati. The transactions include:
1. Four buildings in Cincinnati (240,578 sq ft) for $17.9 million at 7.0% NOI yield, 100% leased to ten tenants
2. A Cincinnati warehouse (263,000 sq ft) for $23.3 million at 6.7% NOI yield, single-tenant with 3.25% annual rent increases
3. Madison International's 98% joint venture interest in Atlanta (297,583 sq ft) for $23.9 million at 6.8% NOI yield
The combined acquisitions total 801,161 square feet of industrial space, featuring 100% occupancy and a weighted average lease term of 4.4 years.
Plymouth Industrial REIT (NYSE: PLYM) has announced its quarterly dividend for Q1 2025. The company's board of directors declared a regular quarterly cash dividend of $0.24 per share of common stock. This dividend translates to an annualized rate of $0.96 per common share. Shareholders of record as of March 31, 2025, will receive the payment on April 30, 2025.
Plymouth Industrial REIT (NYSE: PLYM) has announced the appointment of Robert O. Stephenson to its Board of Directors as an independent director and member of the Audit Committee. Stephenson currently serves as the Chief Financial Officer of Omega Healthcare Investors (NYSE: OHI), a position he has held since 2001.
Stephenson brings extensive experience from various roles, including Senior Vice President and Treasurer at Integrated Health Services, and positions at CSX Intermodal, Martin Marietta , and Electronic Data Systems. He currently serves on the Board of the University of Maryland Medical Center and is a member of several professional organizations including the Nareit CFO Council.
Plymouth Industrial REIT (NYSE: PLYM) has reported its Q4 and full-year 2024 financial results. Key highlights include Q4 net income of $3.25 per share and Core FFO of $0.46 per unit. Same-store NOI increased 1.1% on a GAAP basis in Q4 2024.
The company completed significant transactions including: forming a $356.6M joint venture with Sixth Street Partners involving 34 Chicago properties, securing a $600M amended unsecured credit facility, and acquiring Cincinnati properties for $20.1M. The board authorized a $90M share repurchase program.
Leasing performance showed strength with Q4 commenced leases experiencing a 19.4% increase in rental rates. The company's portfolio consisted of 129 industrial properties across eleven states, totaling 29.3M square feet, with 92.5% occupancy as of December 2024. Management issued 2025 guidance with Core FFO projected at $1.85-$1.89 per unit.
Plymouth Industrial REIT (NYSE: PLYM) has promoted Anthony Saladino to President and Chief Financial Officer, effective immediately. Saladino, who has served as Executive Vice President and CFO since February 2022, brings extensive experience in finance and accounting from publicly traded companies.
Prior to joining Plymouth in October 2020, Saladino held positions as Chief Accounting Officer at AFIN and NYC REIT, Vice President of Finance at The Ryland Group, and leadership roles at The High Companies. He started his career at EY focusing on publicly traded REITs. He holds an MBA from the University of Chicago, an M.S. in Accounting from the University of Virginia, and a B.S. in Finance from California State University.
According to Chairman and CEO Jeff Witherell, Saladino has contributed to enhancing the company's balance sheet, reducing borrowing costs, and improving borrowing capacity. He has also strengthened financial processes and investor relations.
Plymouth Industrial REIT (NYSE: PLYM) has sold a 33,688-square-foot flex building in Memphis, TN for $2.4 million. The building was part of a larger $100.5 million portfolio acquisition from July 2024. The property was identified for divestment at acquisition due to its non-core status and known tenant vacancy scheduled for December 2024.
The sale proceeds will fund leasing activities and the conversion of a 100,000-square-foot call center building back to a warehouse format for multiple industrial users. Additionally, Plymouth is evaluating the development of a new 106,000-square-foot building on excess portfolio land. The company currently owns 6.4 million square feet in the Memphis market.
Plymouth Industrial REIT (NYSE: PLYM) has secured a two-year lease agreement for its 769,500-square-foot Class A industrial building in St. Louis's Metro East submarket. The lease, which began January 15, 2025, is with a major international manufacturing, engineering, and logistics service provider. The agreement covers 600,000 square feet in the first year and 450,000 square feet in the second year.
The new lease rate is higher than recent market signings and compares favorably to the expiring rent on a net effective per square foot basis. Notably, the agreement was executed without free rent or tenant improvements, unlike the original lease which had specific tenant requirements affecting the rate.
Plymouth Industrial REIT (NYSE: PLYM) has released details about the tax treatment of its 2024 dividends for common stockholders. The company distributed a total of $0.96 per share throughout 2024, paid in four equal quarterly installments of $0.24 per share.
The dividends were distributed on the following dates: April 30, July 31, October 31, 2024, and January 31, 2025 (for stockholders of record on March 28, June 28, September 30, and December 31, 2024, respectively). Of the total distribution, $0.96 per share was classified as ordinary dividends, with approximately $0.46 per share qualifying as unrecaptured Section 1250 gain. There were no capital gain distributions or return of capital components in the 2024 dividends.
Plymouth Industrial REIT (NYSE: PLYM) has disclosed the tax treatment of its 2024 dividends for common stockholders. The company distributed quarterly dividends of $0.24 per share throughout 2024, with payment dates in April, July, October 2024, and January 2025. The total distribution for 2024 amounted to $0.967658 per share. The entire distribution was classified as capital gain, with $0.466565 being unrecaptured Section 1250 gain. Notably, there was no ordinary dividend component or return of capital in the 2024 distributions.
