Plymouth Industrial REIT (PLYM) cuts dividend 47%.

Plymouth Industrial REIT, Inc. (PLYM) announced that it has declared a dividend of $0.20 for the second quarter, representing a 47% decrease from the prior quarterly dividend rate of $0.375.  Although Plymouth's rent collections are holding up reasonably well (96% rent collection in April and 92% for May), the company said the "right sizing of our dividend...provides us flexibility to grow the company and take advantage of the strong fundamentals driving the demand for industrial space."

Plymouth Industrial is a small-cap equity REIT focusing on the acquisition and ownership of industrial properties.  As of March 31, 2020, the company had a total market capitalization of approximately $665 million.