PLYM - Plymouth Industrial posts solid rental rate occupancy growth in 2022

• Plymouth Industrial REIT ( NYSE: PLYM ) stock dipped 3.1% in Thursday afternoon trading even after the company announced strong growth in its rental rates and occupancy last year.
• Leases commenced in 2022 totaled 7,643,881 square feet, all of which were associated with terms of six months, the company said. In turn, rental rates on a cash basis are set to climb 18.5% from a year before.
• Also, its year-end occupancy of 99.0% improved from 97.4% at the end of 2021.
• PLYM added that it has already leased more than 40% of the 5.2M square feet scheduled to expire during 2023, leaving a net 3.1M square feet to be addressed during this year.
• Its Q4 earnings have been planned to roll out on February 23, and a conference call will take hold later that day at 9:00 a.m. ET.
• In Q3, Plymouth reported Q3 earnings beat and tightened its 2022 outlook .

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