Plymouth Industrial REIT Inc. reported its first quarter financial results for 2025, revealing a net income of $5.8 million, or $0.13 per weighted average common share outstanding. This compares to a net income of $6.1 million from the previous period. Core Funds from Operations attributable to common stockholders and unit holders was reported at $0.44 per weighted average common share and units, while Adjusted Funds from Operations was $0.41 per weighted average common share and units. The company highlighted robust leasing activity and the acquisition of $65 million in Class B industrial assets, emphasizing their potential for near- to medium-term upside. Plymouth's portfolio now includes 133 industrial properties across eleven states, totaling approximately 30 million rentable square feet. During the first quarter, Plymouth acquired six industrial buildings, fully leased, encompassing 801,241 square feet for $65.1 million, with a weighted average initial NOI yield of 6.8% and a remaining lease term of 4.4 years. Additionally, the company declared a regular quarterly common stock dividend of $0.24 per share for the first quarter of 2025.
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