The following is a summary of the Plymouth Industrial REIT, Inc. (PLYM) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Plymouth Industrial REIT remains financially stable, with over 90% of its debt being fixed rate.

• The company plans to operate within the six times range during 2024, demonstrating financial stability and long-term planning.

• The primary focus remains on accretive growth, translating into growth in Funds from Operations (FFO).

• The funding for future growth opportunities is planned to come from a combination of asset sales and use of the credit facility, highlighting the company's strategic financial planning.

Business Progress:

• The company is witnessing new investments in the Golden Triangle, with significant ones coming from Toyota and Honda.

• There's an intention to exit certain markets such as Kansas City and sell-off assets that don't align with their long-term plan, underlining their strategic market focus.

• The company is predicting increased activity in the 'for sale' side of their markets, indicating potential business growth.

• Expansion plans in regions like Chicago are due to its attractive transportation costs and labor infrastructure.

• The company is positioned to benefit from the anticipated surge in manufacturing investments due to onshoring and reshoring initiatives in the coming years.

More details: Plymouth Industrial REIT Inc IR

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