Plymouth Industrial REIT (PLYM) Tops Q1 EPS by 1c

Plymouth Industrial REIT (NYSE: PLYM) reported Q1 EPS of ($0.24), $0.01 better than the analyst estimate of ($0.25). Revenue for the quarter came in at $31.92 million versus the consensus estimate of $30.58 million.

Jeff Witherell, Chairman and Chief Executive Officer of Plymouth Industrial REIT, noted, “The first quarter results are above our original expectations and consistent with the leasing and acquisition activity we announced in early April. Our portfolio is performing well with strong occupancy and rent collections while the majority of our 2021 lease expirations have already been addressed. As this leasing momentum attests, we continue to acquire industrial buildings with strong embedded rent growth at attractive pricing well below replacement cost that extend our scale in our target industrial markets. Through disciplined deployment of our ATM program, we have also been able to match fund an increased level of acquisition activity to date and provide capital for several development projects that we have recently initiated.”

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

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