Plymouth Industrial REIT, Inc. (PLYM) has seen a decrease of 7.24% in the aftermarket. However, the last trading session closed at $22.5 with a decline of 2.13%.
Dividend for the Third Quarter of 2021
PLYM declared the third quarter 2021 dividend on 15th September 2021. The normal quarterly cash dividend of $0.21 per share of common stock would be paid in the third quarter of 2021. Moreover, the dividend, which amounts to $0.84 per common share on an annualized basis, will be paid on October 29, 2021, to shareholders.
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PLYM Closes $500 Million Unsecured Credit Facilities
PLYM announced on 17th August 2021 that it has entered into a combined $500 million unsecured credit facility. Firstly, it consists of an amended $200 million revolving credit facility, an amended $100 million term loan, and a new $200 million term loan. Secondly, this will provide increased borrowing capacity and greater capital structure flexibility with lower borrowing costs and longer maturities.
Thirdly, the accordion provision in the combined unsecured credit facilities allows the Company to raise the overall borrowing capacity. The revised revolving credit facility will expire in August 2025, with two six-month extension options available. Lastly, the amended $100 million term loan will expire in August 2026, and the new $200 million term loan will expire in February 2027.
PLYM reported Second Quarter 2021 Results
PLYM announced second-quarter 2021 results on 6th August 2021. For the quarter ended June 30, 2021, the net loss pertaining to common stockholders was $7.4 million. Furthermore, for the second quarters ending June 30, 2021, and 2020, there were 29.4 million and 14.6 million weighted average common shares outstanding, respectively. As of August 3, 2021, Plymouth had 31.9 million common shares. Total revenues for the quarter ending June 30, 2021, were $32.9 million, up from $26.1 million in the previous year.
First Quarter 2021 Results
PLYM reported first-quarter 2021 results on 7th May 2021. For the quarter ended March 31, 2021, the net loss attributable to common stockholders was $6.4 million. A rise in net operating income largely offsets an increase in depreciation expenditure. Moreover, for the first quarters of 2021 and 2020, there were 27.2 million and 14.4 million weighted average common shares outstanding. Last but not least, total revenues for the quarter ending March 31, 2021, were $31.9 million.