Plymouth Industrial REIT FFO of $0.47 beats by $0.03, revenue of $42.8M; reaffirms FY22 guidance

May 04, 2022 7:20 AM ETPlymouth Industrial REIT, Inc. (PLYM)By: Meghavi Singh, SA News Editor1 Comment
  • Plymouth Industrial REIT press release (NYSE:PLYM): Q1 FFO of $0.47 beats by $0.03; AFFO of $0.40.
  • Revenue of $42.8M (+34.1% Y/Y).
  • EBITDAre for the quarter ended March 31, 2022 was $25.0 million compared with $17.2 million for the same period in 2021.
  • NOI for the quarter ended March 31, 2022 was $28.6 million compared with $20.4 million for the same period in 2021.
  • Same store NOI – cash basis for the quarter ended March 31, 2022 was $19.2 million excluding early termination income compared with $18.2 million for the same period in 2021, an increase of 5.1%.
  • Affirmed the full year 2022 guidance ranges for Core FFO of $1.80-$1.85 vs. consensus of $1.85; Same Store Portfolio NOI growth – cash basis of 3.5%-4.5%.

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