Plymouth Industrial REIT Inc. (PLYM) saw its stock price surge 5.01% in Friday's pre-market trading, despite reporting mixed results for the first quarter of 2025. The industrial real estate investment trust's shares climbed despite missing analyst expectations on both earnings per share and revenue.

According to the company's earnings report, Plymouth Industrial REIT posted a quarterly adjusted loss of 18 cents per share, lower than the 14 cents earnings per share reported in the same quarter last year. This figure also fell short of the average analyst expectation of a 10 cents per share loss. Revenue for the quarter declined 9.2% year-over-year to $45.57 million, below the $47.69 million analysts had forecasted.

Despite the mixed results, investors appear to be focusing on positive aspects of the report or have an optimistic outlook for the company's future. The REIT reported a quarterly net income of $5.76 million, which may have contributed to the stock's upward movement. Additionally, analyst recommendations remain largely positive, with 4 "strong buy" or "buy" ratings, 5 "hold" ratings, and only 1 "sell" or "strong sell" rating. The current Wall Street median 12-month price target for Plymouth Industrial REIT stands at $18.00, suggesting potential upside from current levels. This positive sentiment, combined with possible oversold conditions following the stock's 16.5% year-to-date decline, may be driving today's surge in share price.