Investment Thesis
Plymouth Industrial REIT (PLYM) continued its path to grow its top and bottom lines through acquisition. We like its outlook as strong demand for industrial properties should continue in the next few years. Therefore, the company should be able to deliver organic growth through rental rate increases in 2019 and beyond thanks to favorable re-leasing spreads. We like Plymouth’s 8%-yielding dividend. However, it has an over-leveraged balance sheet. Therefore, we think investors may want to be cautious and seek opportunities elsewhere.
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Recent Developments: Q1 2019 Highlights
Plymouth delivered