Plymouth Industrial REIT reports Q3 core FFO 46c, consensus 46c

Reports Q3 revenue $49.765M, consensus $50.65M. Jeff Witherell, Chairman and Chief Executive Officer of Plymouth Industrial REIT, noted, “The strong demand for our space within the Golden Triangle continues to support our portfolio performance as occupancy remains within our targets, leases are signing consistent with the 18% to 20% mark-to-market in the existing portfolio, and the remaining space in our new developments continues to be absorbed. With the multi-year buildup expected from the Golden Triangle’s manufacturing resurgence, we believe our type of industrial space and our properties are well-positioned for the leasing opportunities we are anticipating in 2024 and 2025. We have also made significant progress in simplifying our balance sheet and bringing leverage below our year-end target earlier than we had anticipated.”