Plymouth Industrial Earnings Reports

Plymouth Industrial REIT experienced a net loss of $6.2 million, or ($0.14) per share, in Q2 2025, primarily due to the deconsolidation of the Chicago Portfolio and increased non-controlling interest. Despite this, the company demonstrated strong operational performance with Core FFO of $0.46 per share and AFFO of $0.44 per share. Key drivers of growth included a 6.7% increase in GAAP same-store NOI and a 10.0% increase in cash rental rates on commenced leases, alongside strategic acquisitions totaling over 2 million square feet.

Plymouth Industrial REIT had a good start to 2025 with robust leasing activity and strategic acquisitions. Net income decreased year-over-year primarily due to the deconsolidation of the Chicago Portfolio, while Core FFO and AFFO also saw slight declines. The company affirmed its full-year 2025 guidance for Core FFO.

Plymouth Industrial REIT reported a strong fourth quarter with significant net income growth driven by a gain on the sale of real estate. The company also saw an increase in cash rental rates from commenced leases and expanded its borrowing capacity through a new credit facility.

Plymouth Industrial REIT reported a net loss attributable to common stockholders of $15.7 million, or $(0.35) per share, compared to net income of $7.5 million, or $0.17 per share, for the same period in 2023. Consolidated total revenues were $51.9 million, compared with $49.8 million for the same period in 2023. The results were impacted by non-recurring items, including a loss on financing transaction and the impact of vacancies, offset by NOI contribution from the Memphis acquisition.

Plymouth Industrial REIT reported better-than-expected Q2 2024 results, driven by a one-time benefit from favorable real estate tax appeals in Chicago and the accretive acquisition in Memphis. The company maintained a strong balance sheet and liquidity, using disposition proceeds to fund the acquisition. While challenges in leasing up certain properties led to tightening the top end of full-year guidance, the development program is nearing full stabilization, promising benefits in 2025.

Plymouth Industrial REIT reported on their Q1 2024 earnings, highlighting the strength of their balance sheet and liquidity, with fixed rates for over 90% of their debt. The company is seeing the transaction market unlock earlier than anticipated and is focused on accretive growth in 2024 that translates into FFO growth.