NYSE$PLYM
Plymouth Industrial REIT Inc · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Plymouth Industrial REIT, Inc. announced its financial results for the fourth quarter and fiscal year ended December 31, 2024.
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.
- Net income attributable to common stockholders increased to $146.2 million, or $3.25 per weighted average common share, up from $9.2 million, or $0.20 per weighted average common share in the prior year.
- Core FFO was $0.46 per weighted average common share and units, compared to $0.47 in the prior year.
- Cash rental rates for commenced leases increased by 19.4% for leases greater than six months.
- The company completed the contribution of 34 properties in the Chicago MSA to a joint venture for $356.6 million and acquired a portfolio of industrial properties in Cincinnati for $20.1 million.
Headline financials
Revenue & EPS history
Plymouth Industrial · Revenue · Quarterly
$47.6M
Forward guidance
Plymouth issued full year 2025 guidance with projected net loss per weighted average common share between $0.26 and $0.23, and Core FFO between $1.85 and $1.89 per weighted average common share and units.
Tailwinds
- Expected 12.7% increase in rental rates on a cash basis from executed leases scheduled to commence in 2025.
- Anticipated initial NOI yield of 6.8% from the recently acquired Cincinnati portfolio.
- Forecasted 6.00% to 6.50% same store NOI growth on a cash basis for full year 2025.
- Projected average same store portfolio occupancy between 95.0% and 97.0% for full year 2025.
- Guidance includes prospective acquisition volumes between $270 million and $450 million.
Headwinds
- Projected net loss per weighted average common share between $0.26 and $0.23 for full year 2025.
- General and administrative expenses are expected to be between $15.85 million and $16.45 million.
- Interest expense, net is projected to be between $32.0 million and $36.5 million.
- The St. Louis lease was lower on a face rent basis than the prior lease.
- The guidance does not include the impact of any prospective dispositions or capitalization activities.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 8 quarterly earnings reports · overlaid with Q4 2024
+0.7%
Avg return
Earnings day
+1.2%
Avg return
5 days after
+7.0%
Avg return
30 days after
62%
21 / 34 earnings
Positive
+7.0%
Q3 2018
Best reaction
-6.0%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | +0.1% | +1.0% | -1.0% | |
| Q2 2025 | +0.8% | +3.9% | +57.5% | |
| Q1 2025 | +2.2% | +3.1% | +8.2% | |
| Q4 2024 | +1.3% | +4.5% | +1.0% | |
| Q3 2024 | +1.9% | +2.8% | -8.6% | |
| Q2 2024 | -0.3% | -2.7% | -0.6% | |
| Q1 2024 | -2.0% | -1.4% | -0.6% | |
| Q4 2023 | -0.9% | -1.9% | -0.2% | |
| Q3 2023 | +5.1% | — | — | |
| Q2 2023 | -0.6% | — | — | |
| Q1 2023 | +5.3% | — | — | |
| Q4 2022 | +2.4% | — | — | |
| Q3 2022 | +4.3% | — | — | |
| Q2 2022 | +4.0% | — | — | |
| Q1 2022 | -2.1% | — | — | |
| Q4 2021 | -6.0% | — | — | |
| Q3 2021 | +3.3% | — | — | |
| Q2 2021 | -1.9% | — | — | |
| Q1 2021 | +5.8% | — | — | |
| Q4 2020 | +2.2% | — | — | |
| Q3 2020 | -4.2% | — | — | |
| Q2 2020 | -0.9% | — | — | |
| Q1 2020 | +2.6% | — | — | |
| Q4 2019 | -6.0% | — | — | |
| Q3 2019 | -3.0% | — | — | |
| Q2 2019 | -4.2% | — | — | |
| Q1 2019 | +0.3% | — | — | |
| Q4 2018 | -1.2% | — | — | |
| Q3 2018 | +7.0% | — | — | |
| Q2 2018 | +2.3% | — | — | |
| Q1 2018 | +0.3% | — | — | |
| Q4 2017 | +1.2% | — | — | |
| Q3 2017 | +0.2% | — | — | |
| Q2 2017 | +3.6% | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q1 2012 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro