Plymouth Industrial REIT (PLYM) News
Market Cap: $678.71M
Avg Volume: 372.49K
Industry: REIT - Industrial
Sector: Real Estate
Short Interest Down For U.S. REITs In March, Up For Advertising REITs
Average short interest in US equity real estate investment trusts decreased moderately in March. US REITs' short interest fell 3 basis points month over month to 3.7% of shares outstanding on average in March. The shopping center segment logged the biggest decline in March compared to the previous month, down 1.2 percentage points to 3.3% of shares outstanding on average.
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Markets Gone Wild
US equity markets fluctuated wildly in a tumultuous week - ultimately ending with the best weekly gains since November 2023 - after the White House announced a delay on the most "reciprocal" tariffs. Following several days of extreme volatility in which tremors of instability were felt across global markets, investors exhaled as the Administration's tariff messaging pivoted from "retribution" and "score-settling" to dealmaking. Government bond markets were in focus throughout the week as the 10-Year Treasury experienced significant and still-unexplained weakness, failing to act as typical "safe havens" during the market plunge.
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Plymouth Industrial Boosts Growth With Healthy Leasing Activity in Q1
PLYM drives growth with healthy leasing activity and strategic acquisitions.
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Plymouth Industrial REIT Provides Activity Update for First Quarter 2025
BOSTON, April 07, 2025 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company” or “Plymouth”) provided an activity update for the first quarter of 2025. The Company also announced details for its first quarter earnings conference call and webcast to be held on May 2, 2025.
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Cash COWs: 11 High-Yield REITs
Now is a good time to invest in REITs due to low inflation, expected rate cuts, and a bullish technical trend. Analyst upgrades on REITs outnumber downgrades, and many quality REITs offer higher-than-usual yields, making them attractive for income investors. Dividend safety is crucial; Seeking Alpha Premium's Quant Ratings help identify REITs with low risk of dividend cuts, ensuring stable income.
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PLYM Buys Properties for $65.1M, Grows Atlanta & Cincinnati Presence
Plymouth's purchase of industrial properties in the Atlanta and Cincinnati markets marks well below replacement cost.
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Plymouth Industrial REIT Expands Portfolio in Atlanta and Cincinnati
Closed on $65.1 Million of Acquisitions during the First Quarter of 2025 Closed on $65.1 Million of Acquisitions during the First Quarter of 2025
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Plymouth Industrial REIT Declares Dividend for the First Quarter of 2025
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.
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Plymouth Industrial REIT Appoints Robert O. Stephenson to Board of Directors
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.
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Plymouth Industrial: High Yield And Value In Plain Sight
Plymouth Industrial REIT trades at a significant discount to peers, offering a compelling value opportunity with strong fundamentals and a 5.6% dividend yield. PLYM focuses on secondary markets within the high-demand "Golden Triangle" region, showing robust leasing activity and growing occupancy rates. It's substantially reduced its long-term debt over the past 2 years and carries a safe leverage ratio.
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5 REITs Ripe For Buyout
M&A is beneficial for target shareholders, offering premiums of 10%-50%, and identifying potential buyout targets involves analyzing specific features like discount to NAV and valuation disparity. REITs trading below NAV, especially in hot asset classes, are prime M&A candidates. Willingness to sell, management incentives, and operational synergies are crucial factors in determining a company's likelihood of being acquired.
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Plymouth Industrial REIT, Inc. (PLYM) Q4 2024 Earnings Conference Call Transcript
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 Call to review the Company's Results for the Fourth Quarter of 2024. All participants will be in listen-only mode.
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Plymouth Industrial (PLYM) Reports Q4 Earnings: What Key Metrics Have to Say
The headline numbers for Plymouth Industrial (PLYM) give insight into how the company performed in the quarter ended December 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
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Plymouth Industrial (PLYM) Matches Q4 FFO Estimates
Plymouth Industrial (PLYM) came out with quarterly funds from operations (FFO) of $0.46 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.47 per share a year ago.
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Plymouth Industrial REIT Reports Fourth Quarter Results
BOSTON, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (–“Plymouth” or the “Company”) today announced its financial results for the fourth quarter, fiscal year ended December 31, 2024 and other recent developments. Fourth Quarter, Full Year 2024 and Subsequent Highlights Reported results for the fourth quarter of 2024 reflect net income attributable to common stockholders of $3.25 per weighted average common share; Core Funds from Operations attributable to common stockholders and unit holders (“Core FFO”) of $0.46 per weighted average common share and units; and Adjusted FFO (“AFFO”) of $0.40 per weighted average common share and units.
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Plymouth Industrial REIT Promotes Anthony Saladino to President
BOSTON, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced it has promoted Anthony Saladino to President and Chief Financial Officer, effective immediately.
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Plymouth Industrial REIT Executes Value-Add Initiatives in Recently Acquired Memphis Logistics Portfolio
BOSTON, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) announced the sale of a 33,688-square-foot flex building in Memphis, TN to an end user at a price of $2.4 million. The building was part of a portfolio Plymouth acquired in July 2024 for $100.5 million.
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Plymouth Industrial Secures Lease in St. Louis, Sees Rent Growth
Continuing its healthy leasing momentum, PLYM secures a two-year lease from a major international enterprise at a St. Louis industrial building.
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Plymouth Industrial REIT Inks Lease at Key St. Louis Building
BOSTON, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) announced it has executed a two-year lease at its 769,500-square-foot Class A industrial building in the Metro East submarket of St. Louis that commenced on January 15, 2025. The lease is for 600,000 square feet during the first year and 450,000 square feet during the second year with a major international manufacturing, engineering, and logistics service provider.
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CORRECTING and REPLACING -- Plymouth Industrial REIT Announces Tax Treatment of 2024 Dividends
BOSTON, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) announced the tax treatment of its 2024 dividends to common stockholders. The following table summarizes Plymouth Industrial REIT's dividends to stockholders of Common Stock CUSIP #729640102 traded on the NYSE under ticker symbol “PLYM” for the tax year ended December 31, 2024:
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Plymouth Industrial REIT Announces Tax Treatment of 2024 Dividends
BOSTON, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) announced the tax treatment of its 2024 dividends to common stockholders. The following table summarizes Plymouth Industrial REIT's dividends to stockholders of Common Stock CUSIP #729640102 traded on the NYSE under ticker symbol “PLYM” for the tax year ended December 31, 2024:
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Plymouth Industrial Shows Resilient Growth & Strategic Focus in Q4
PLYM ends 2024 strong with rent growth and strategic acquisitions.
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Plymouth Industrial REIT Provides Activity Update for Fourth Quarter 2024
BOSTON, Jan. 10, 2025 (GLOBE NEWSWIRE) -- —(January 10, 2025) Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company” or “Plymouth”) provided an activity update for the fourth quarter of 2024. The Company also announced details for its fourth quarter earnings conference call and webcast to be held on February 27, 2025.
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Innovative Industrial's Business Model Fails, While Plymouth Shows Resilience
Plymouth Industrial REIT, Inc. is a strong industrial REIT with a durable business model, trading at a discounted AFFO multiple and well below NAV. Innovative Industrial Properties, Inc. faces significant tenant difficulties, with high rent per foot and risky tenant investment strategy leading to potential long-term vacancies or reduced rents. PLYM's tenant defaults are minor and have led to higher replacement rents, showcasing robust asset underwriting and a focus on quality real estate.
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Plymouth Buys Portfolio for $20.1M, Boosts Cincinnati Presence
PLYM purchases the small bay industrial properties in Cincinnati well below replacement cost.
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Plymouth Industrial REIT Adds to its Presence in Cincinnati with Acquisition of Small Bay Industrial Portfolio for $20.1 Million
Second Tranche of Portfolio to Close in First Quarter of 2025 for $17.9 Million Second Tranche of Portfolio to Close in First Quarter of 2025 for $17.9 Million
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Plymouth Industrial REIT Declares Dividend for the Fourth Quarter of 2024
BOSTON, Dec. 13, 2024 (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 fourth quarter of 2024. The dividend, which equates to an annualized rate of $0.96 per common share, is payable on January 31, 2025, to stockholders of record as of the close of business on December 31, 2024.
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Sector Spotlight: Industrial REITs - Still A Real Estate Darling?
The industrial REIT sector has seen significant price corrections due to changing macroeconomic factors, making current pricing more investible. Investor enthusiasm has waned, reflected in falling AFFO multiples from 35.5x in 2021 to 20.5x recently. Despite strong demand, new supply has suppressed rent growth and occupancy, leading to tepid SSNOI growth.
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Undercovered Dozen: Canadian Solar, Plymouth Industrial, GameStop, Samsara +
The 'Undercovered' Dozen highlights 12 lesser-covered stocks, showcasing diverse investment opportunities and sparking community discussion on their potential. Canadian Solar's shift to owning power plants is seen as ensuring consistent profits from electricity sales, mitigating manufacturing volatility and boosting future profitability. Plymouth Industrial REIT faces challenges with earnings misses and competitive disadvantages, making it less attractive compared to other industrial and retail REITs according to David Johnson.
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Plymouth Industrial: Too Risky To Own
Despite some positive deals, Plymouth's high volatility, tenant issues, and underperformance compared to peers make it less attractive for income-seeking investors. Plymouth's smaller size makes it vulnerable to short-term shocks and outbidding by larger competitors, impacting its stability and growth potential. I rate PLYM stock as a Sell due to a Q3 earnings miss, size disadvantages, and better alternatives in the industrial REIT space.
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AIP Realty Trust Announces Securities Purchase Agreement to Acquire AllTrades Industrial Properties, LLC and Closing of Investment by Plymouth Industrial OP, LP, a subsidiary of Plymouth Industrial REIT, Inc.
VANCOUVER, British Columbia, Nov. 14, 2024 (GLOBE NEWSWIRE) -- AIP Realty Trust (the “Trust” or “AIP”) (TSXV: AIP.U) today announces that it, through its subsidiary AIP OP, LP (“OP LP”), has entered into a securities purchase agreement (the “Securities Purchase Agreement”) with 2024 ATIP, Inc. (“ATIP”) pursuant to which the Trust proposes to acquire (the “AllTrades Transaction”) all of the issued and outstanding membership interests (“Membership Interests”) of AllTrades Industrial Properties, LLC (“AllTrades”). OP LP is a Delaware limited partnership of which AIP Realty USA, Inc. (the “REIT”), a subsidiary of the Trust, serves as general partner. Pursuant to the AllTrades Transaction, among other things, OP LP will acquire all of the Membership Interests, the consideration for which is expected to be comprised of the following:
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Why REITs Will Pummel Stocks In 2025
REITs have strongly outperformed the S&P 500 in the recent past. I expect this strong outperformance to continue. There are two reasons for this.
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Plymouth Industrial REIT, Inc. (PLYM) Q3 2024 Earnings Call Transcript
Plymouth Industrial REIT, Inc. (NYSE:PLYM ) Q3 2024 Earnings Conference Call November 7, 2024 9:00 AM ET Company Participants Tripp Sullivan - Investor Relations Jeff Witherell - Chairman & Chief Executive Officer Anthony Saladino - Executive Vice President & Chief Financial Officer Jim Connolly - Executive Vice President, Asset Management Conference Call Participants Mitch Germain - Citizens JMP Rich Anderson - Wedbush John Kim - BMO Capital Markets Todd Thomas - KeyBanc Capital Markets Brendan Lynch - Barclays Anthony Howe - Truist Securities Operator Good morning, and welcome to the Plymouth Industrial REIT Conference Call to review the company's Results for the Third Quarter of 2024. All participants will be in listen-only mode.
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Plymouth Industrial (PLYM) Q3 FFO Lag Estimates
Plymouth Industrial (PLYM) came out with quarterly funds from operations (FFO) of $0.44 per share, missing the Zacks Consensus Estimate of $0.48 per share. This compares to FFO of $0.46 per share a year ago.
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Plymouth Industrial REIT Reports Third Quarter 2024 Results
BOSTON, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced its financial results for the third quarter ended September 30, 2024, and other recent developments.
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Plymouth Industrial REIT Upsizes Aggregate Borrowing Capacity to $1.5 Billion with New $600 Million Unsecured Credit Facility
BOSTON, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced it has entered into a $600 million amended and restated unsecured credit facility that provides expanded borrowing capacity, extended maturities and enhanced ability to pursue other unsecured debt.
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Mopar Energizes 2024 SEMA Show With Plymouth GTX Electromod and Ram Sport Truck Concepts
AUBURN HILLS, Mich., Oct. 29, 2024 /PRNewswire/ -- 1967 Plymouth GTX Electromod Concept is powered by a conceptual Mopar e-Crate propulsion package Ram 2500 Power Wagon Concept bridges gap between daily workhorse and weekend adventurer Moparized Ram 1500 RHO features new high-impact concept exterior graphics and Mopar accessories Dodge will showcase products from the brand's Direct Connection performance parts line, including crate engines and more, and debut new heritage-inspired Dodge E-Bike licensed product Mopar display area (#44137 in South Hall) spotlights numerous customized vehicles from Jeep®, Ram and Dodge, Mopar enthusiast/TV personality Mark Worman; along with hundreds of factory-backed performance parts and accessories Mopar puts a serious charge into the 2024 Specialty Equipment Market Association (SEMA) Show, Nov. 5 – Nov. 8 in Las Vegas, with new, head-turning concept vehicles – combined to showcase a wide range of distinctly different appearance and performance modifications to enthusiasts.
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PLYM or NHI: Which Is the Better Value Stock Right Now?
Investors with an interest in REIT and Equity Trust - Other stocks have likely encountered both Plymouth Industrial (PLYM) and National Health Investors (NHI). But which of these two companies is the best option for those looking for undervalued stocks?
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These REITs Trade At Premiums, But Should They?
REIT sectors are often mispriced due to broad-brush analysis; individual property types react differently to economic news, creating investment opportunities. Industrial REITs face weakened fundamentals but still have growth potential; STAG Industrial and Plymouth are undervalued within the sector. Manufactured housing REITs deserve their premium due to affordability and constrained supply; UMH Properties and Flagship offer cheaper entry points.
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Rate Cut Rethink
U.S. equity markets extended gains to a fifth-straight week despite a continued upswell in benchmark interest rates, as investors weighed a solid start to earnings season against lukewarm inflation data. All eyes were on the Consumer Price Index report, which posted a fractional upside surprise in September for a second-straight month, which followed four straight months of cooler-than-expected reports. Bond markets remained under pressure as buoyant labor market data last week and lukewarm inflation data this week has prompted investors to re-think the prospects of aggressive Fed rate cuts.
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PLYM vs. NHI: Which Stock Is the Better Value Option?
Investors interested in REIT and Equity Trust - Other stocks are likely familiar with Plymouth Industrial (PLYM) and National Health Investors (NHI). But which of these two companies is the best option for those looking for undervalued stocks?
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Plymouth Industrial Boosts Growth With Healthy Leasing Activity in Q3
PLYM drives success with healthy leasing activity and an increase in rental rates.
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3 REITs With A Margin Of Safety
The margin of safety, introduced by Benjamin Graham, emphasizes diversification to protect against volatility and human errors, enhancing the probability of profitable outcomes. Healthpeak Properties, Plymouth Industrial REIT, and Realty Income are highlighted as REITs with a significant margin of safety, each rated as a Buy. Healthpeak Properties benefits from a merger, strong earnings, and a diversified healthcare portfolio, trading at a discount with a 5.45% dividend yield.
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Leverage In Real Estate Investing
Leverage amplifies both risks and rewards; strong fundamentals can mitigate high leverage risks, while weak fundamentals can worsen even low leverage scenarios. Vornado's low leverage couldn't save it from declining office property values, whereas NexPoint's high leverage was offset by strong apartment fundamentals. Mispricing exists in REITs due to the market's overemphasis on leverage metrics; Plymouth Industrial is undervalued despite strong fundamentals, unlike overvalued self-storage REITs with weak fundamentals.
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If I Was Retiring In 10-20 Years With 10 REITs - Part 3
The Federal Reserve is expected to cut interest rates, benefiting REITs, which have shown strong performance and offer attractive investment opportunities for long-term growth. NETSTREIT, Kite Realty, VICI Properties, and Plymouth Industrial are recommended buys due to their strong fundamentals, high-quality tenants, and solid balance sheets. REITs offer reliable dividends and potential for compounding returns, making them ideal for investors with 10–20 years until retirement.
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Plymouth Industrial REIT Declares Dividend for the Third Quarter of 2024
BOSTON, Sept. 13, 2024 (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 third quarter of 2024. The dividend, which equates to an annualized rate of $0.96 per common share, is payable on October 31, 2024, to stockholders of record as of the close of business on September 30, 2024.
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Plymouth Teams Up With Sixth Street to Expand & Bolster Growth
PLYM announces an agreement with Sixth Street for an investment of $250 million to enhance earnings growth and expand the platform.
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Plymouth Industrial REIT Announces Strategic Partnership with Sixth Street
Highlights: The transaction provides Plymouth with approximately $500 million of capital to pursue acquisitions Sixth Street intends to be a strategic partner in pursuing additional joint venture opportunities with Plymouth in both new and existing industrial markets Sixth Street to provide a total of $250 million of capital in the form of a 65% joint venture ownership of Plymouth's Chicago portfolio and a non-convertible preferred equity investment into the Operating Partnership Plymouth will contribute its Chicago-area properties to the joint venture with Sixth Street at a 6.2% capitalization rate for a total gross asset value of approximately $356 million and will retain 35% ownership of the approximately 5.9 million-square-foot portfolio The transaction is leverage-neutral with overall leverage expected to decline sequentially in the fourth quarter after closing of the joint venture and remain in line with Plymouth's stated leverage targets for 2024 Plymouth affirmed its previously issued 2024 Core FFO full year guidance range of $1.88 to $1.90 per share provided on August 1, 2024 BOSTON, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced a strategic agreement with Sixth Street, a leading global investment firm, for significant, long-term growth capital to accelerate earnings growth and scale the platform in key industrial markets. The $250 million strategic investment from Sixth Street enables Plymouth to fund additional growth on a leverage-neutral basis without exclusive reliance on the public equity markets.
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2 'Under The Radar' REITs Up To 40% Undervalued
The purpose of this article isn't to make the case that a recession will happen. What matters is that the pressure on the Fed is rising to finally cut rates, and to figure out what happens when the Fed starts cutting rates. REITs like Netstreit and Plymouth Industrial REIT offer attractive yields, growth potential, and undervaluation amid shifting rate expectations.
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Plymouth Industrial: Buy High Quality At A Substantial Discount
Individual stock investing can be highly rewarding, so long as one is willing to do the legwork of finding quality stocks at a discount. Plymouth Industrial is an under-the-radar REIT with strong fundamentals, including rent growth and high occupancy. PLYM offers a well-covered dividend, growth potential, and favorable valuation compared to peers.
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Plymouth Industrial REIT, Inc. (PLYM) Q2 2024 Earnings Call Transcript
Plymouth Industrial REIT, Inc. (NYSE:PLYM ) Q2 2024 Results Conference Call August 1, 2024 9:00 AM ET Company Participants Tripp Sullivan - SCR Partners LLC Jeff Witherell - Chairman and Chief Executive Officer Jim Connolly - Executive Vice President, Asset Management Conference Call Participants Todd Thomas - KeyBanc Capital Markets Rich Anderson - Wedbush Nick Thillman - Baird Brian Maher - B. Riley Mitchell Germain - Citizens JMP Nikita Bely - JPMorgan Anthony Hau - Truist Brendon Lynch - Barclays Steven Domanski - Janney Operator Good day, and welcome to the Plymouth Industrial REIT Second Quarter 2024 Earnings Call.
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Plymouth Industrial (PLYM) Q2 FFO Surpass Estimates
Plymouth Industrial (PLYM) came out with quarterly funds from operations (FFO) of $0.48 per share, beating the Zacks Consensus Estimate of $0.47 per share. This compares to FFO of $0.46 per share a year ago.
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Plymouth Industrial REIT Reports Second Quarter 2024 Results
BOSTON, July 31, 2024 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced its financial results for the second quarter ended June 30, 2024, and other recent developments.
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Industrial Real Estate Returning To Growth
Second quarter earnings reports from Prologis and First Industrial indicate growth returning to the industrial sector. Industrial real estate market rental rates stopped growing in late 2023, but recent data suggests supply is subsiding, demand is returning, and rates are increasing. Mark-to-market opportunities for industrial REITs range from 20% to 100%, indicating stabilized P/FFO multiples of 10X to 14X.
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REITs Rip As Rates Retreat
U.S. equity markets climbed to record highs, while benchmark interest rates dipped to four-month lows as investors rotated from high-flying growth stocks into beaten-down value names following a cooler-than-expected CPI report. Headline CPI declined 0.1% month-over-month, which dragged the annual increase to below 3% for the first time since March 2021, while CPI ex-Shelter is again below the Fed's 2% target. Combined with recent softness in employment data and relatively dovish Fed commentary, markets now see at least two Fed rate cuts this year, with September now viewed as a near-lock.
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Plymouth (PLYM) Boosts Growth With Solid Leasing Activity in Q2
Plymouth (PLYM) drives success with strong leasing activity, an increase in rental rates and high occupancy.
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Plymouth Industrial REIT Provides Activity Update for Second Quarter 2024
BOSTON, July 08, 2024 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) announced its leasing and development activity for the second quarter of 2024. The Company also announced details for its second quarter earnings conference call and webcast to be held on August 1, 2024.
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Equity REITs: Takeaways From REITWeek 2024
Overall positive outlook for REIT industry with decline in development activity, potential for increased transaction market activity, and well-capitalized REITs poised for growth. Key themes from REITWeek conference: improving transaction market, challenges with development projects, optimism driven by stable-to-improving fundamentals. Actionable ideas from meetings include investing in data centers, cell towers, triple net properties, multifamily, SFR, MH/RV, self-storage, healthcare, industrial, and office sectors.
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Metronet Unveils Plymouth Fiber-Optic Internet Plans, Further Minnesota Network Expansion
EVANSVILLE, Ind.--(BUSINESS WIRE)--Metronet announced today that residents and businesses in Plymouth will soon have access to 100% fiber-optic internet service. With a $30 million investment from Metronet, Plymouth will become part of Metronet's expanding Minnesota network, offering speeds of up to five-gigabits per second for homes and up to ten-gigabits per second for businesses. Construction is set to begin this summer, with the first customers expected to be connected by fall of 2024. Upon.
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3 Small Cap REITs Poised To Profit
Small-cap REITs can be profitable investments, with the potential for acquisition or growth to become industry giants. Three small-cap REITs to consider are Alpine Income Property Trust, Plymouth Industrial, and Whitestone REIT. Each REIT has unique strengths and opportunities for growth, making them speculative buys with potential for long-term returns.
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Plymouth Industrial REIT Declares Dividend for the Second Quarter of 2024
BOSTON, June 14, 2024 (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 second quarter of 2024. The dividend, which equates to an annualized rate of $0.96 per common share, is payable on July 31, 2024, to stockholders of record as of the close of business on June 28, 2024.
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Plymouth Industrial REIT to Present at Nareit's REITweek 2024
BOSTON, May 29, 2024 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) announced it will make a presentation at Nareit's REITweek 2024 Investor Conference on Wednesday, June 5, 2024 from 11:00 a.m. to 11:30 a.m. ET. The presentation will be webcast and available on Plymouth's investor relations website.
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Plymouth Industrial: An Interesting Industrial REIT
Plymouth Industrial REIT, Inc. is a smaller industrial and logistics REIT which shows rapid growth, financed by shareholder dilution. The company owns 156 properties in the Golden Triangle, occupied at 97%, mostly with triple net leases. While growth is impressive, per share value creation has been modest, making me a bit reserved here about Plymouth Industrial REIT, Inc.
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Plymouth Industrial REIT, Inc. (PLYM) Q1 2024 Earnings Call Transcript
Plymouth Industrial REIT, Inc. (NYSE:PLYM ) Q1 2024 Earnings Call Transcript May 2, 2024 9:00 AM ET Company Participants Tripp Sullivan - SCR Partners LLC Jeff Witherell - Chairman and Chief Executive Officer Jim Connolly - Executive Vice President, Asset Management Conference Call Participants Todd Thomas - KeyBanc Capital Markets Nick Thillman - Baird Mitch Germain - Citizens JMP Bryan Maher - B. Riley FBR Anthony Hau - Suntrust Brendan Lynch - Barclays Operator Good day, and welcome to the Plymouth Industrial REIT First Quarter 2024 Results Conference Call.
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Plymouth Industrial (PLYM) Lags Q1 FFO and Revenue Estimates
Plymouth Industrial (PLYM) came out with quarterly funds from operations (FFO) of $0.45 per share, missing the Zacks Consensus Estimate of $0.47 per share. This compares to FFO of $0.45 per share a year ago.
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Plymouth Industrial REIT Reports First Quarter 2024 Results
BOSTON, May 01, 2024 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced its financial results for the first quarter ended March 31, 2024, and other recent developments.
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My Biggest REIT Wins And Lessons
I have suffered many losses over the years. But fortunately, I have had many more winners than losers. I discuss some of my best REIT investments and lessons that they taught me.
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Plymouth (PLYM) Drives Growth With Solid Leasing Activity in Q1
Plymouth (PLYM) drives growth with strong leasing activity, an increase in rental rates and high occupancy.
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Plymouth Industrial REIT Provides Activity Update for First Quarter 2024
BOSTON, April 02, 2024 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) announced its leasing and development activity for the first quarter of 2024. The Company also announced details for its first quarter earnings conference call and webcast to be held on May 2, 2024.
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Industrial Real Estate: Opportunities Amidst Supply And Demand Boom
Industrial real estate has experienced strong demand growth, leading to an increase in development of new warehouses. The supply and demand for industrial real estate vary by location, resulting in pockets of both strength and weakness. The future winners in the industrial real estate sector can be estimated by studying valuation and operating fundamentals.
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Plymouth Industrial: Good Time To Accumulate This Undervalued REIT
Plymouth Industrial REIT is an under-followed value stock with strong fundamentals and improving balance sheet. PLYM focuses on the acquisition, development, and management of industrial properties in the "Golden Triangle" region of the US. PLYM has demonstrated consistent results, with strong leasing spreads and occupancy rates, and is expected to continue growing its cash NOI and FFO/share.
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Plymouth Industrial REIT Development Projects in Jacksonville Earn Green Globes® Certification for Core & Shell Construction
BOSTON, March 11, 2024 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) announced that two additional projects in the Company's development program have achieved Green Globes® certification for Core & Shell Construction for sustainability efforts during the design and delivery process. A total of six projects in the first phase of the Company's development program have achieved a minimum of a Two Green Globes certification, demonstrating Plymouth's commitment to current and future building operations best practices, occupant health and wellness, and reducing carbon emissions.
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Plymouth Industrial REIT, Inc. (PLYM) Q4 2023 Earnings Call Transcript
Plymouth Industrial REIT, Inc. (PLYM) Q4 2023 Earnings Call Transcript
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Plymouth Industrial (PLYM) Q4 FFO Match Estimates
Plymouth Industrial (PLYM) came out with quarterly funds from operations (FFO) of $0.47 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.44 per share a year ago.
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Plymouth Industrial REIT Announces Tax Treatment of 2023 Dividends
BOSTON, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) announced the tax treatment of its 2023 dividends to common stockholders. The following table summarizes Plymouth Industrial REIT's dividends to stockholders of Common Stock CUSIP #729640102 traded on the NYSE under ticker symbol “PLYM” for the tax year ended December 31, 2023:
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GoNetspeed Completes Deployment of 100% Fiber Internet Serving Plymouth
PLYMOUTH, Conn.--(BUSINESS WIRE)--GoNetspeed today announced that the deployment of its 100% fiber network is officially complete in Plymouth, bringing high-speed internet to 2,700 residents and businesses. Through GoNetspeed's $1.5 million investment, residents throughout Plymouth will now experience high-speed, symmetrical upload and download internet speeds directly from their home or business. With access to GoNetspeed's symmetrical internet, customers can upload online, just as fast as the.
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3 High Conviction REITs For Early 2024
Plymouth Industrial REIT, Inc. has strong fundamental momentum and potential for further upside due to industry and macro trends in its favor. Simon Property Group, Inc. has a low FFO multiple but its real estate business is showing growth potential disguised by the drag from its cyclical operating retailers. EPR Properties may experience a reversal in its momentum as its price movement is not supported by fundamental strength and it faces significant tenant risk.
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Plymouth (PLYM) Drives Growth With Solid Leasing Activity in Q4
Plymouth (PLYM) drives success with strong leasing activity, an increase in rental rates and high occupancy.
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Plymouth Industrial: High Growth At A Low Price
Plymouth Industrial is a REIT that leases industrial real estate like warehouses and distribution centers. Income-oriented investors may want to look elsewhere because the dividend yield is low and the payout unlikely to grow at a good pace. However, value investors should consider the significant discount to NAV, reasonable use of leverage, and very high growth of the business over the years.
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Plymouth Industrial REIT Declares Dividend for the Fourth Quarter of 2023
BOSTON, Dec. 15, 2023 (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 $0.225 per share of common stock for the fourth quarter of 2023. The dividend, which equates to an annualized rate of $0.90 per common share, is payable on January 31, 2024, to stockholders of record as of the close of business on December 29, 2023.
globenewswire.com
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STAG Vs. LXP: Which Is The Better Industrial REIT?
STAG Vs. LXP: Which Is The Better Industrial REIT?
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Plymouth Industrial REIT, Inc. (PLYM) Q3 2023 Earnings Call Transcript
Plymouth Industrial REIT, Inc. (NYSE:PLYM ) Q3 2023 Earnings Conference Call November 2, 2023 9:00 AM ET Company Participants Tripp Sullivan - SCR Jeff Witherell - Chairman and Chief Executive Officer Jim Connolly - Executive Vice President, Asset Management Anthony Saladino - Executive Vice President and Chief Financial Officer Conference Call Participants Todd Thomas - KeyBanc Capital Markets Nick Thillman - Baird John Kim - BMO Capital Markets Anthony Hau - Truist Bryan Maher - B. Riley Securities Barry Oxford - Colliers Securities Mitch Germain - JMP Securities Mike Mueller - JPMorgan Operator Hello and welcome to the Plymouth Industrial REIT Third Quarter 2023 Earnings Conference Call.
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Plymouth Industrial (PLYM) Meets Q3 FFO Estimates
Plymouth Industrial (PLYM) came out with quarterly funds from operations (FFO) of $0.46 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.46 per share a year ago.
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Plymouth Industrial REIT Reports Third Quarter Results
BOSTON, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced its financial results for the third quarter ended September 30, 2023 and other recent developments. Third Quarter and Subsequent Highlights Reported results for the third quarter of 2023 reflect net income attributable to common stockholders of $0.17 per weighted average common share; Core Funds from Operations attributable to common stockholders and unit holders (“Core FFO”) of $0.46 per weighted average common share and units; and Adjusted FFO (“AFFO”) of $0.42 per weighted average common share and units.
globenewswire.com
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Why These 3 REITs Are Too Risky to Hold
It's been a challenging time for the real estate investment trust (REIT) market in 2023. Higher interest rates make it much more expensive to service debt.
investorplace.com
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GoNetspeed Connects Plymouth with 100% Fiber Internet
PLYMOUTH, Conn.--(BUSINESS WIRE)--GoNetspeed today announced that 100% fiber internet is now available in Plymouth. With GoNetspeed's fully funded $1.5 million investment in Plymouth, many residents and businesses will now experience fast, reliable internet and voice service for their home or business, free of taxpayer dollars. Once construction of the 100% fiber optic infrastructure is complete, soon more than 2,700 homes and businesses throughout Plymouth will have the opportunity to experien.
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Plymouth: Industrial Growth Without The Industrial Multiple
Plymouth Industrial is a small cap industrial REIT with properties in submarkets that have low supply growth and high demand. The combination of low vacancy rates and minimal supply will lead to market rental rate growth, potentially increasing the company's FFO/share. Plymouth is trading at a significantly discounted multiple compared to its peers, indicating potential for multiple expansion and upside in stock price.
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Plymouth (PLYM) Drives Growth With Solid Leasing Activity in Q3
Plymouth (PLYM) drives success with strong leasing activity, an increase in rental rates and high occupancy.
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Plymouth Industrial REIT Provides Activity Update for Third Quarter 2023
BOSTON, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) announced its leasing and development activity for the third quarter of 2023. The Company also announced details for its third quarter earnings conference call and webcast to be held on November 2, 2023.
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REITs Fundamentally Like Higher For Longer
The Fed's hawkish rhetoric suggests fewer rate cuts in 2024 and a possible rate hike in 2023, leading to a sell-off in REITs. However, historical data shows that REITs have performed well in rising interest rate environments. The COVID era cuts and the resulting free money environment have negatively impacted REITs, but rising rates are the cure for the unhealthy conditions.
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Nel ASA: Nel has selected Plymouth in Michigan for its next gigafactory
OSLO, Norway , Sept. 26, 2023 /PRNewswire/ -- Nel has selected Plymouth Charter Township, a suburb of Detroit, Michigan, as the location for its next gigafactory.
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Plymouth (PLYM) Sells Asset to Up Flexibility & Fund Development
Plymouth's (PLYM) recent sale of a Chicago industrial building is a strategic step toward optimizing its portfolio.
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Plymouth Industrial REIT Sells Chicago Industrial Building for $19.9 Million
BOSTON, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) sold its 306,552-square-foot industrial building at 6510 West 73rd Street in Chicago for $19.9 million to an undisclosed owner-user. Plymouth's net proceeds after the payoff of a $5.8 million mortgage secured by the property and other adjustments are $13.9 million. The Company intends to use the proceeds to pay down outstanding borrowings on its credit facility and fund its development program.
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Plymouth Industrial REIT Declares Dividend for the Third Quarter of 2023
BOSTON, Sept. 15, 2023 (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 $0.225 per share of common stock for the third quarter of 2023. The dividend, which equates to an annualized rate of $0.90 per common share, is payable on October 31, 2023, to stockholders of record as of the close of business on September 29, 2023.
globenewswire.com
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Plymouth Industrial REIT Completes Redemption of Series A Preferred Stock
BOSTON, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) today announced that it completed its previously announced redemption of all of its outstanding 7.50% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”) for a total redemption payment of $48.8 million.
globenewswire.com
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GoNetspeed to Power Plymouth, CT with 100% Fiber Internet
PLYMOUTH, Conn.--(BUSINESS WIRE)--GoNetspeed today announced that the Town of Plymouth will soon have access to 100% fiber internet. Through GoNetspeed's privately funded $1.5 million investment in Plymouth, more than 2,700 homes and businesses will have access to future-proof fiber internet as early as the end of this fall with construction beginning next month. Residents and businesses interested in GoNetspeed services may visit gonetspeed.com to indicate interest and receive construction upd.
businesswire.com
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Plymouth Industrial: A Quality REIT With A Debt Profile Waiting To Unfold (Rating Downgrade)
Despite recent outperformance, shares in Plymouth Industrial still trade at a forward multiple that is well below its peers in the industrial sector. A higher debt load is one reason shares have commanded a discount. In recent news, however, the company announced that they would redeem all their outstanding preferred shares. The effect of this would be a reduction in total leverage.
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Plymouth Industrial REIT: The Next Target In M&A?
Real estate investors saw rents soar for apartments and industrial/logistics space before cooling down. Plymouth Industrial REIT is trading at a sub-sector multiple of just 12.4(x), but has outperformed its sector peers. Plymouth's redemption of its Preferred A Series in September may attract interest from other industrial REITs for potential acquisitions.
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Plymouth Industrial REIT, Inc. (PLYM) Q2 2023 Earnings Call Transcript
Plymouth Industrial REIT, Inc. (NYSE:PLYM ) Q2 2023 Earnings Conference Call August 3, 2023 9:00 AM ET Company Participants Tripp Sullivan - Investor Relations Jeff Witherell - Chairman & Chief Executive Officer Jim Connolly - Executive Vice President, Asset Management Anthony Saladino - Executive Vice President & Chief Financial Officer Conference Call Participants Todd Thomas - KeyBanc Capital Markets John Kim - BMO Capital Markets Nick Thillman - Baird Nikita Bely - JPMorgan Anthony Hau - SunTrust Mitch Germain - JMP Securities Operator Good day, and welcome to the Plymouth Industrial REIT Second Quarter 2023 Earnings Conference Call. Today, all participants will be in a listen-only mode.
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