Plymouth Industr - PLYM STOCK NEWS

Plymouth Industrial REIT (NYSE: PLYM) reported strong leasing and acquisition activity for Q1 2022. The company initiated leases totaling 1.3 million square feet, featuring a 16.7% cash rental rate increase. Its portfolio reached 97% occupancy. Plymouth acquired 38 industrial buildings for $188.4 million, with a weighted average yield of 6.2%. Notably, the acquisition included properties in prime locations with varying occupancy rates. Additionally, the company raised $17.2 million through its ATM program by issuing 614,800 shares at an average price of $28.43.

Plymouth Industrial REIT, Inc. (NYSE: PLYM) has acquired Madison International Realty’s 80% interest in Plymouth MIR JV LLC for $46.6 million and assumed $56.0 million in secured debt. This transaction, valued at $102.6 million, aims to yield 6.6% over the next 12 months. The deal enhances Plymouth's footprint to 4.7 million square feet in Memphis, Tennessee, by adding 28 industrial buildings totaling 2.3 million square feet. Plymouth's management has successfully improved property conditions and tenant profiles since the acquisition.

Plymouth Industrial REIT (NYSE: PLYM) announced a quarterly cash dividend of $0.46875 per share, amounting to an annualized dividend of $1.875 per share, for its 7.50% Series A Cumulative Redeemable Preferred Stock (PLYM-PrA) for Q1 2022. The dividend is scheduled to be paid on March 31, 2022, to shareholders of record as of March 15, 2022. This declaration highlights the company’s commitment to returning value to shareholders.

Plymouth Industrial REIT (NYSE: PLYM) reported a net loss of $8.1 million for Q4 2021, or $(0.23) per share, despite a 33% revenue increase to $39.9 million. The company's net operating income (NOI) rose to $26.6 million, with same-store NOI up 4.4% on a GAAP basis. The firm acquired 15 buildings totaling 3.2 million square feet for $216.5 million, realizing a weighted average initial yield of 6.2%. A quarterly cash dividend of $0.21 was declared, with a 4.8% increase planned for Q1 2022. 2022 guidance indicates continued growth potential, despite the current net loss forecast of $(0.41) to $(0.36) per share.

Plymouth Industrial REIT (NYSE: PLYM) has announced a 4.8% increase in its quarterly cash dividend to $0.22 per share, reflecting strong growth in its portfolio. This adjustment translates to an annualized rate of $0.88 per share. The dividend will be payable on April 29, 2022, to stockholders of record as of March 31, 2022. Jeff Witherell, CEO, noted this increase marks the second consecutive year of dividend growth, driven by robust leasing and acquisition activity.

Plymouth Industrial REIT, Inc. (NYSE: PLYM) is set to release its fourth-quarter and full-year results for 2021 on February 23, 2022, before market opening. The company will hold a conference call at 9:00 a.m. ET on the same day, which will be accessible to the public. The call will be available for replay until March 2, 2022. Plymouth focuses on acquiring and managing industrial properties across the U.S., including warehouses and distribution centers, primarily in key industrial corridors.

Plymouth Industrial REIT (NYSE: PLYM) announced the tax treatment for its 2021 dividends, providing essential details for common stockholders. Notable dividends include a total cash distribution of $0.82 per share for 2021, with ordinary dividends totaling $0.812788 per share and a return of capital of $0.007212 per share. Preferred stockholders received a cash distribution of $1.8750 per share. Stockholders are encouraged to consult tax advisors regarding the implications of these dividends, with more information available on their website.

Plymouth Industrial REIT, Inc. (NYSE: PLYM) reported strong performance for Q4 2021, highlighted by significant leasing and acquisition activities. The company acquired 6.4 million square feet of industrial properties for $371 million in 2021, with Q4 acquisitions alone totaling 2.9 million square feet for $194.5 million. Leasing activity saw over 666,000 square feet leased in Q4, resulting in a 22.1% rental rate increase. The portfolio remains 97.4% occupied, with over 99.7% of rents collected. Additionally, Plymouth raised $51.8 million through share issuance in its ATM program.

Plymouth Industrial REIT, Inc. (NYSE: PLYM) has declared a quarterly cash dividend of $0.21 per share for Q4 2021, totaling an annualized rate of $0.84. The dividend is payable on January 31, 2022, to stockholders on record by the end of December 31, 2021. Plymouth focuses on the acquisition and management of industrial properties across the U.S., including warehouses and distribution centers, primarily in key logistics corridors.