Plymouth Industrial Reit ( (PLYM) ) has released its Q1 earnings. Here is a breakdown of the information Plymouth Industrial Reit presented to its investors.
Plymouth Industrial REIT, Inc. is a real estate investment trust focused on acquiring, owning, and managing industrial properties across the United States. The company specializes in providing functional and flexible space solutions for its tenants.
In its first-quarter earnings report for 2025, Plymouth Industrial REIT reported a net income of $0.13 per share and highlighted significant leasing and acquisition activities. The company also announced a share repurchase program and affirmed its financial guidance for the year.
Key financial metrics included a Core Funds from Operations (Core FFO) of $0.44 per share and an Adjusted FFO (AFFO) of $0.41 per share. The company experienced a 9.6% increase in rental rates for leases commencing in the first quarter and acquired six industrial buildings for $65.1 million. Additionally, Plymouth sold a non-core asset in Memphis, TN, and executed a significant lease in St. Louis, MO.
Looking ahead, Plymouth Industrial REIT remains optimistic about its growth prospects, supported by a robust acquisition pipeline and strong leasing activity. The company aims to leverage its strategic market position to create long-term value for shareholders.