Overview

* Plymouth Q2 revenue of $47.2 mln beats analyst expectations, per LSEG data

* Net loss for Q2 was $6.2 mln, compared to net income last year

* Core FFO for Q2 was $20.9 mln, down from $21.8 mln last year

Outlook

* Plymouth affirms 2025 Core FFO guidance at $1.85 to $1.89 per share

* Company expects 2025 same-store NOI growth of 6.0% to 6.5%

* Plymouth projects 2025 acquisition volume of $270 mln to $450 mln

* Company anticipates 2025 average occupancy of 95.0% to 97.0%

Result Drivers

* DECONSOLIDATION IMPACT - Net loss driven by deconsolidation of Chicago Portfolio for joint venture formation

* RENT ESCALATIONS - SS NOI positively impacted by rent escalations and leasing spreads, offset by higher real estate taxes

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $47.20 $46.50

Revenue mln mln (4

Analysts

)

Q2 Net -$6.20

Income mln

Q2 Core $20.90

FFO mln

Q2 $0.24

Dividend

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

* Wall Street's median 12-month price target for Plymouth Industrial REIT Inc ( PLYM ) is $18.00, about 19.2% above its August 5 closing price of $14.55

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)