Plymouth Industrial REIT(PLYM) Newsfilter·2025-01-10 12:00Core Viewpoint - Plymouth Industrial REIT, Inc. reported strong performance in Q4 2024, highlighted by significant cash rental rate increases and strategic acquisitions, indicating a positive outlook for the company [2][5]. Leasing Activity - In Q4 2024, leases totaling 1,467,245 square feet were executed, including 1,042,732 square feet of renewals and 424,513 square feet of new leases, with rental rates reflecting a 19.5% increase on a cash basis [2]. - Renewal leases showed a 12.4% increase, while new leases experienced a 33.0% increase on a cash basis [2]. - Same store occupancy was reported at 95.7%, with total portfolio occupancy at 92.5%, affected by various factors including tenancy issues in Cleveland [2]. Annual Leasing Summary - For the entire year of 2024, executed leases totaled 5,827,136 square feet, representing 71.4% of total expirations [3]. - Renewal leases accounted for 4,180,593 square feet, with a 12.8% increase in rental rates, while new leases totaled 1,646,543 square feet with a 28.2% increase [3]. Acquisition Activity - Plymouth acquired a portfolio of small bay industrial properties in Cincinnati for 17.9 million, expected to close in Q1 2025, with an anticipated initial yield of 7.3% [5]. Joint Venture - On November 13, 2024, Plymouth completed the contribution of its equity interests in 34 properties in the Chicago MSA to the Sixth Street Joint Venture for a total purchase price of $356.6 million [6]. Upcoming Earnings Call - The company plans to release its earnings on February 26, 2025, followed by a conference call on February 27, 2025, at 9:00 a.m. Eastern Time [7].