Plymouth Industrial REIT, Inc. (PLYM): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how a Real Estate Investment Trust (REIT) operates, particularly one focused on industrial properties? Plymouth Industrial REIT, Inc. (PLYM) stands as a player in this sector, owning and managing a portfolio of industrial properties. With a portfolio of $1.3 billion, and 54 industrial buildings, let’s delve into the history, ownership structure, and operational strategies that define Plymouth Industrial REIT, exploring how it generates revenue and creates value in the competitive real estate market.

Plymouth Industrial REIT, Inc. (PLYM) History

Plymouth Industrial REIT, Inc. Founding Timeline

Year established

Plymouth Industrial REIT, Inc. was established in 2011.

Original location

The company is headquartered in Boston, Massachusetts.

Founding team members

While specific founding team members are not always highlighted in readily available resources, the leadership and key executives who have shaped the company include:

• Jeffrey E. Witherell, Chief Executive Officer
• Daniel J. Wright, President and Chief Investment Officer
• Anthony Saladino, Executive Vice President and Chief Financial Officer

Initial capital/funding

Information regarding the precise initial capital or funding is not detailed in the general overviews of the company. However, as a real estate investment trust, initial funding would have come from private investors and eventually through its public offering.

Plymouth Industrial REIT, Inc. Evolution Milestones

Plymouth Industrial REIT, Inc. Transformative Moments

• Strategic Shift to Industrial Properties: A key transformative decision was the company's strategic focus on industrial properties. This allowed them to capitalize on the growing demand for logistics and distribution spaces driven by e-commerce and supply chain modernization.
• Geographic Diversification: Expanding into diverse geographic markets across the U.S. reduced risk and allowed the company to tap into different regional economic growth opportunities.
• Capital Recycling: The active management of their portfolio through strategic dispositions and reinvestment of capital into higher-growth opportunities has been crucial in enhancing the company's overall performance.
• Emphasis on Operational Efficiency: Focusing on improving operational efficiencies, such as increasing occupancy rates and reducing operating expenses, has driven net operating income (NOI) growth and improved profitability.

To gain more insights into the investor profile, you might find this resource helpful: Exploring Plymouth Industrial REIT, Inc. (PLYM) Investor Profile: Who’s Buying and Why?

Plymouth Industrial REIT, Inc. (PLYM) Ownership Structure

Plymouth Industrial REIT, Inc. features a mix of institutional, insider, and retail ownership, influencing its corporate governance and strategic direction.

Plymouth Industrial REIT, Inc.'s Current Status

Plymouth Industrial REIT, Inc. is a publicly traded company, meaning its shares are available for purchase on the stock market. It operates as a real estate investment trust (REIT), focusing on the acquisition, ownership, and management of single and multi-tenant industrial properties located primarily in secondary and select primary markets across the United States.

Plymouth Industrial REIT, Inc.'s Ownership Breakdown

The ownership of Plymouth Industrial REIT, Inc. is distributed among various types of shareholders. Here's a breakdown:

Plymouth Industrial REIT, Inc.'s Leadership

The leadership team is responsible for the strategic direction and operational management of the REIT.

• Jeffrey E. Witherell: Chief Executive Officer & Co-Founder
• Daniel J. Wright: President, Chief Investment Officer & Co-Founder
• Anthony Saladino: Chief Financial Officer

These individuals, along with other key executives and the board of directors, guide the company's investment decisions, financial strategies, and overall performance. More information about the company's goals can be found at Mission Statement, Vision, & Core Values of Plymouth Industrial REIT, Inc. (PLYM).

Plymouth Industrial REIT, Inc. (PLYM) Mission and Values

Plymouth Industrial REIT, Inc. focuses on the acquisition, ownership, and management of single and multi-tenant industrial properties, aiming to generate stable income and long-term value appreciation. Their core values emphasize operational excellence, tenant satisfaction, and strategic growth in select markets.

Plymouth Industrial REIT, Inc.'s Core Purpose

Official mission statement

While an explicit, formal mission statement is not readily available in recent sources, Plymouth Industrial REIT, Inc.'s operational focus and strategic objectives reflect an implicit mission:

• To acquire, own, and manage a portfolio of strategically located industrial properties.
• To provide tenants with functional and well-maintained spaces that support their business operations.
• To deliver consistent and growing returns to shareholders through effective property management and strategic capital deployment.

Vision statement

Similarly, a specific vision statement is not publicly declared. However, the company's activities suggest a clear vision:

• To be a leading owner and operator of industrial properties in select secondary and primary markets across the United States.
• To create a portfolio of high-quality assets that provide stable cash flow and long-term appreciation.
• To foster strong tenant relationships, ensuring high occupancy rates and tenant retention.

Company slogan/tagline

No official slogan or tagline is currently in use. For more insights into the company's performance, see Breaking Down Plymouth Industrial REIT, Inc. (PLYM) Financial Health: Key Insights for Investors.

Plymouth Industrial REIT, Inc. (PLYM) How It Works

Plymouth Industrial REIT, Inc. operates as a real estate investment trust (REIT) focused on the acquisition, ownership, and management of single and multi-tenant industrial properties located primarily in secondary and select primary markets across the United States.

Plymouth Industrial REIT, Inc.'s Product/Service Portfolio

Plymouth Industrial REIT, Inc.'s Operational Framework

Plymouth Industrial REIT, Inc.'s operational framework is designed to maximize occupancy rates, rental income, and property values. The company achieves this through a combination of strategic property acquisitions, proactive property management, and efficient capital allocation.

• Acquisition Strategy: Plymouth Industrial REIT, Inc. targets industrial properties in secondary and select primary markets, focusing on assets with value-add potential or those that can benefit from improved management and capital investment.
• Property Management: The company emphasizes proactive property management to maintain high occupancy rates and tenant satisfaction. This includes regular property inspections, prompt maintenance and repairs, and effective tenant communication.
• Leasing Strategy: Plymouth Industrial REIT, Inc. seeks to secure long-term leases with creditworthy tenants, providing a stable income stream. They also focus on diversifying their tenant base to mitigate risk.
• Capital Allocation: Plymouth Industrial REIT, Inc. strategically invests capital in property improvements and expansions to increase rental income and property values. They also explore opportunities to redevelop or reposition properties to meet changing market demands.
• Financial Management: The company maintains a conservative balance sheet with a focus on managing debt levels and interest rate risk. They also utilize various financing tools to fund acquisitions and capital improvements. As of the fiscal year 2024, Plymouth Industrial REIT reported a total revenue of $180.9 million and net income attributable to common stockholders of $7.4 million.

Plymouth Industrial REIT, Inc.'s Strategic Advantages

Plymouth Industrial REIT, Inc. possesses several strategic advantages that enable it to compete effectively in the industrial real estate market.

• Focus on Secondary Markets: By targeting secondary markets, Plymouth Industrial REIT, Inc. can acquire properties at attractive valuations and achieve higher yields compared to primary markets.
• Experienced Management Team: The company's management team has extensive experience in industrial real estate, providing them with the expertise to identify and capitalize on market opportunities.
• Strong Tenant Relationships: Plymouth Industrial REIT, Inc. focuses on building strong relationships with its tenants, leading to high renewal rates and stable occupancy.
• Disciplined Investment Approach: The company employs a disciplined investment approach, carefully evaluating potential acquisitions and capital investments to ensure they meet their financial objectives.
• Access to Capital: Plymouth Industrial REIT, Inc. has access to various sources of capital, allowing them to fund acquisitions and capital improvements. In 2024, the company's total assets were valued at approximately $1.3 billion.

To gain more insights into the investor profile and market dynamics of Plymouth Industrial REIT, explore: Exploring Plymouth Industrial REIT, Inc. (PLYM) Investor Profile: Who’s Buying and Why?

Plymouth Industrial REIT, Inc. (PLYM) How It Makes Money

Plymouth Industrial REIT, Inc. primarily generates revenue through the ownership and operation of single and multi-tenant industrial properties. These properties are leased to tenants who conduct a variety of business activities, providing a diversified income stream for the company.

Revenue Breakdown

Business Economics

The business economics of Plymouth Industrial REIT are driven by several key factors:

• Lease Rates: Rental rates charged to tenants are a primary determinant of revenue. These rates are influenced by market conditions, property location, and the overall demand for industrial space.
• Occupancy Rates: High occupancy rates are essential for maximizing revenue. The company focuses on maintaining and increasing occupancy across its portfolio. As of December 31, 2024, the company’s occupancy rate was approximately 97.2%.
• Property Management: Efficient property management helps control operating expenses and maintain tenant satisfaction, contributing to stable and recurring revenue.
• Acquisition and Development: Strategic acquisitions and development of industrial properties expand the company's asset base and revenue potential.

Additional factors influencing the company's business model include:

• Geographic Diversification: Spreading investments across different geographic locations reduces the risk associated with regional economic downturns.
• Tenant Diversification: Leasing space to a variety of tenants across different industries mitigates the risk of revenue loss from any single tenant.

For insights into the company's guiding principles, refer to: Mission Statement, Vision, & Core Values of Plymouth Industrial REIT, Inc. (PLYM).

Financial Performance

Plymouth Industrial REIT's financial performance can be assessed through the following key metrics:

• Total Revenue: For the year ended December 31, 2024, total revenue was reported at $259.7 million, compared to $215.4 million for the year ended December 31, 2023.
• Net Operating Income (NOI): NOI is a measure of the profitability of the company's properties. For the year ended December 31, 2024, NOI totaled $177.2 million compared to $146.7 million for the year ended December 31, 2023.
• Funds From Operations (FFO): FFO is a key metric for REITs, representing net income excluding gains or losses from sales of property and depreciation. Core FFO was approximately $1.94 per diluted share for the year ended December 31, 2024.
• Debt and Leverage: Monitoring debt levels and leverage ratios is crucial for assessing financial stability. As of December 31, 2024, total debt was $1.1 billion.

Plymouth Industrial REIT, Inc. (PLYM) Market Position & Future Outlook

As of April 2025, Plymouth Industrial REIT is strategically positioned to capitalize on the increasing demand for industrial real estate, focusing on single and multi-tenant industrial properties. The company's future outlook appears stable, with ongoing efforts to optimize its portfolio and leverage market opportunities for sustained growth. The Mission Statement, Vision, & Core Values of Plymouth Industrial REIT, Inc. (PLYM). guides their strategic decisions.

Competitive Landscape

Opportunities & Challenges

Industry Position

Plymouth Industrial REIT maintains a competitive stance within the industrial REIT sector through several key strategies:

• Strategic Market Focus: Concentrating on secondary and tertiary markets allows Plymouth to capture higher growth potential and less competition compared to primary markets.
• Portfolio Diversification: Balancing single and multi-tenant properties helps mitigate risk and provides stable income streams.
• Operational Efficiency: Implementing cost-effective management practices to enhance property values and tenant satisfaction.