Plymouth Industrial REIT reports Q4 core FFO 40c, consensus 46c

Reports Q4 revenue $47.57M, consensus $50.93M. Jeff Witherell, chairman and CEO of Plymouth, noted, “During 2024, our focus on driving organic growth through leasing and improved property operations resulted in a 17% increase in cash rent spreads on renewals and new leases. With nearly one third of our existing leases scheduled to expire over the next two years, we see further opportunity to increase rents. We also entered into an exciting partnership with Sixth Street by expanding our platform and providing access to a significant amount of capital to fuel accretive growth to benefit our shareholders. Based on our capital allocation decisions, improved liquidity on our balance sheet, and a strong mix of assets in the Golden Triangle, we believe Plymouth is well-positioned to take advantage of market opportunities in 2025.”