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 declared a regular quarterly cash dividend of $0.24 per share of common stock for the third quarter of 2024. This dividend translates to an annualized rate of $0.96 per common share. The payment is scheduled for October 31, 2024, and will be distributed to stockholders of record as of the close of business on September 30, 2024. This announcement demonstrates Plymouth Industrial REIT's commitment to providing consistent returns to its shareholders, maintaining its dividend policy in the industrial real estate sector.
Plymouth Industrial REIT (NYSE: PLYM) has announced a strategic partnership with Sixth Street, securing approximately $500 million in capital for acquisitions. The deal includes a $250 million investment from Sixth Street, comprising a 65% joint venture ownership of Plymouth's Chicago portfolio and a non-convertible preferred equity investment. Plymouth will contribute its Chicago-area properties at a 6.2% capitalization rate, retaining 35% ownership of the 5.9 million-square-foot portfolio.
The transaction is leverage-neutral, with overall leverage expected to decline in Q4 2024. Plymouth affirmed its 2024 Core FFO guidance of $1.88 to $1.90 per share. The partnership aims to accelerate earnings growth and scale the platform in key industrial markets without relying solely on public equity markets.
Plymouth Industrial REIT (NYSE: PLYM) reported its Q2 2024 financial results, highlighting net income of $0.03 per share, Core FFO of $0.48 per share, and AFFO of $0.49 per share. The company experienced a 3.3% increase in same-store NOI on a GAAP basis and a 9.7% increase on a cash basis. Leasing activity showed strong performance with an 18.8% increase in rental rates on new and renewal leases. Plymouth acquired a 14-building portfolio in Memphis for $100.5 million with an initial NOI yield of 8.0%. The company tightened its full-year 2024 guidance range for Core FFO and maintained its quarterly dividend of $0.24 per share.
Plymouth Industrial REIT (NYSE: PLYM) announced its leasing and development activity for Q2 2024. New leases totaled 1,811,939 sq ft, with an 18.8% increase in rental rates. Total occupancy was 97%, and same-store occupancy was 98.2%.
Leases scheduled to begin in 2024 total 4,654,825 sq ft, contributing to a 15.7% increase in rental rates. Plymouth is also focusing on its 769,500 sq ft industrial building in St. Louis, currently working with six prospects for leasing.
Development includes a fully leased 52,920 sq ft building in Jacksonville and a 154,692 sq ft industrial building in Cincinnati, which is close to being fully leased. Plymouth will hold its Q2 earnings call on August 1, 2024.
Plymouth Industrial REIT announced a quarterly cash dividend of $0.24 per share for Q2 2024. This brings the annualized dividend rate to $0.96 per share.
The dividend will be paid on July 31, 2024, to shareholders who hold the stock by June 28, 2024.
Plymouth Industrial REIT (NYSE: PLYM) announced that it will be presenting at Nareit's REITweek 2024 Investor Conference. The event is scheduled for Wednesday, June 5, 2024, from 11:00 a.m. to 11:30 a.m. ET.
Investors and interested parties can access the presentation via a webcast on Plymouth's investor relations website. This announcement aims to provide investors with insights into Plymouth's recent performance and future prospects.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) reported financial results for Q1 2024, with net income of $0.14 per share, Core FFO of $0.45 per share, and AFFO of $0.45 per share. The Company experienced a 2.9% SS NOI increase on a GAAP basis and a 7.0% increase on a cash basis. Lease commencements saw a 17.1% increase in rental rates. Completed 54,008 square feet of development leasing. Notable gain on sale of real estate. Increased dividend by 6.7%. Reaffirmed 2024 guidance for Core FFO. Positive outlook for 2024 with a focus on leasing, portfolio enhancement, and growth opportunities.
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