Plymouth Industrial REITNYSE: PLYM

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.

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.

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.

Plymouth Industrial REIT, Inc. (NYSE: PLYM) Q1 2024 Earnings Call Transcript on May 2, 2024 at 9:00 AM ET featuring Company Participants Tripp Sullivan from SCR Partners LLC, Jeff Witherell as Chairman and CEO, and Jim Connolly as Executive VP of Asset Management. Conference Call Participants include Todd Thomas from KeyBanc Capital Markets, Nick Thillman from Baird, Mitch Germain from Citizens JMP, Bryan Maher from B. Riley FBR, Anthony Hau from Suntrust, Brendan Lynch from Barclays. The Operator welcomes everyone to the Plymouth Industrial REIT First Quarter 2024 Results Conference Call.

Plymouth Industrial (PLYM) reported quarterly funds from operations (FFO) of $0.45 per share, which fell short of the Zacks Consensus Estimate of $0.47 per share. This is the same FFO per share as reported in the same quarter last year.

Plymouth (PLYM) drives growth with strong leasing activity, an increase in rental rates and high occupancy.

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.

Plymouth Industrial REIT, Inc. (PLYM) Q4 2023 Earnings Call Transcript

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.