Plymouth Industrial REIT Adds to its Presence in Cincinnati with Acquisition of Small Bay Industrial Portfolio for $20.1 Million
Plymouth Industrial REIT, Inc. (PLYM)
NASDAQ:AMEX Investor Relations:
ir.plymouthreit.com
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Source: GlobeNewswire
BOSTON, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced it has acquired a portfolio of primarily small bay industrial properties in Cincinnati, Ohio for $20.1 million, which equates to an anticipated initial NOI yield of 6.8%. The portfolio consists of nine buildings totaling 258,082 square feet that are currently 96.9% leased to 23 tenants with a weighted average lease term of approximately 2.75 years. The Company has a second tranche of this portfolio that is under contract for $17.9 million, which equates to an anticipated initial yield of 7.3%, and is expected to close in the first quarter of 2025, contingent on the satisfaction of customary closing conditions, which cannot be assured. This portfolio consists of four buildings in Cincinnati totaling 240,578 square feet that are currently 98.0% leased to nine tenants with a weighted average lease term of approximately 3.75 years. Jeff Witherell, Chairman and CEO of P
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News
- Plymouth Industrial REIT Adds to its Presence in Cincinnati with Acquisition of Small Bay Industrial Portfolio for $20.1 Million [Yahoo! Finance]Yahoo! Finance
- Plymouth Industrial REIT Declares Dividend for the Fourth Quarter of 2024GlobeNewswire
- Plymouth Industrial REIT, Inc. (NYSE: PLYM) had its price target lowered by analysts at Truist Financial Co. from $27.00 to $22.00. They now have a "buy" rating on the stock.MarketBeat
- Plymouth Industrial REIT, Inc. (NYSE: PLYM) had its price target lowered by analysts at Barclays PLC from $25.00 to $22.00. They now have an "equal weight" rating on the stock.MarketBeat
- AIP Realty Trust Announces Securities Purchase Agreement to Acquire AllTrades Industrial Properties, LLC and Closing of Investment by Plymouth Industrial OP, LP, a subsidiary of Plymouth Industrial REIT, Inc. [Yahoo! Finance]Yahoo! Finance
PLYM
Earnings
- 11/6/24 - Miss
PLYM
Sec Filings
- 11/19/24 - Form 8-K
- 11/18/24 - Form 4
- 11/18/24 - Form 4
- PLYM's page on the SEC website