Plymouth Industrial REIT (PLYM) Reports Q4 Loss of $0.44, Revenues Beat; Offers FY20 EPS Guidance

Plymouth Industrial REIT (NYSE: PLYM) reported Q4 EPS of ($0.44), versus ($1.10) reported last year. Revenue for the quarter came in at $22.48 million versus the consensus estimate of $15.2 million.

Jeff Witherell, Chairman and Chief Executive Officer of Plymouth Industrial REIT, noted, “All of the elements of our business are trending in the right direction with strong leasing momentum, efficient and scalable asset management, an active acquisition pipeline and disciplined capital markets activity. The fundamentals in our markets continue to create a solid foundation for leasing success and are a direct result of focusing on locations that are attractive to tenants with access to skilled blue-collar labor pools. We have also added new markets in the past year that further diversify the portfolio and give us first looks at additional deal flow consistent with our stringent underwriting.”

GUIDANCE:

Plymouth Industrial REIT sees FY2020 EPS of ($0.62)-($0.58), versus the consensus of ($0.87).

• The Company expects its results for 2020 to be in a range of a net loss of $(0.62) to $(0.58) per weighted average common share and operating unit outstanding, Nareit FFO attributable to common stockholders and unit holders of $2.05 to $2.09 per weighted average common share and unit and AFFO of $1.81 to $1.85 per weighted average common share and unit.

For earnings history and earnings-related data on Plymouth Industrial REIT (PLYM) click here.

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