Plymouth Industrial REIT cuts FY24 core FFO view to $1.83-$1.85 from $1.88-$1.90

Consensus $1.89. The company said, “Plymouth adjusted its full year 2024 guidance ranges for net income and Core FFO per weighted average common share and units and adjusted its accompanying assumptions, which can be found in the tables below. The adjustment to the full year 2024 ranges is primarily attributed to delayed lease commencements, namely with respect to the previously disclosed buildings in Chicago and Cleveland (and non-recoverable charges associated with the vacancy of one of these buildings), the remaining development space in Cincinnati, coupled with transitory vacancy in five buildings across three markets, and the projected impact from the Sixth Street transaction.”