Shares of Plymouth Industrial REIT Inc. (PLYM) tumbled 5.21% in pre-market trading on Friday following the release of its disappointing first-quarter earnings report. The industrial real estate investment trust missed analyst expectations for both earnings and revenue, causing investors to reassess their positions.

Plymouth Industrial REIT reported quarterly earnings of $0.41 per share, falling short of the analyst consensus estimate of $0.46 by 10.87%. This represents a significant decline from the same period last year when the company posted earnings of $0.45 per share. Similarly, the company's quarterly sales came in at $45.42 million, missing the analyst consensus estimate of $47.69 million by 4.76%. This figure also marks a 9.51% decrease from the $50.19 million in sales reported in the same quarter last year.

The disappointing results may raise concerns among investors about Plymouth Industrial REIT's performance in the current economic environment. As the industrial real estate sector faces challenges from rising interest rates and potential economic slowdown, the company's ability to meet growth expectations could come under scrutiny. Investors will likely be watching closely for any guidance or strategic updates from management to address these headwinds in the coming quarters.