Modiv Industrial, Inc. Declares Monthly Dividend of $0.10 (NYSE:MDV)

Modiv Industrial, Inc. (NYSE:MDV) announced a monthly dividend on Friday, May 24th, Wall Street Journal reports. Investors of record on Monday, September 30th will be given a dividend of 0.0958 per share on Friday, October 25th. This represents a $1.15 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date of this dividend is Monday, September 30th.

Modiv Industrial has a payout ratio of 1,045.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Modiv Industrial to earn $1.44 per share next year, which means the company should continue to be able to cover its $1.15 annual dividend with an expected future payout ratio of 79.9%.

Modiv Industrial Trading Down 0.2 %

Shares of NYSE:MDV opened at $17.03 on Friday. The firm has a market capitalization of $160.42 million, a PE ratio of -36.23, a PEG ratio of 2.56 and a beta of -0.21. Modiv Industrial has a 1-year low of $13.50 and a 1-year high of $17.49. The business’s 50 day moving average is $15.66 and its 200-day moving average is $15.34.

Modiv Industrial (NYSE:MDV) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.28). Modiv Industrial had a negative return on equity of 0.78% and a negative net margin of 3.71%. The business had revenue of $11.34 million for the quarter, compared to analyst estimates of $11.76 million. During the same quarter in the prior year, the firm earned $0.31 EPS. On average, sell-side analysts predict that Modiv Industrial will post 1.32 EPS for the current year.

Insider Activity

In other Modiv Industrial news, major shareholder First City Investment Group, L purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average price of $14.94 per share, with a total value of $74,700.00. Following the completion of the transaction, the insider now directly owns 653,944 shares of the company’s stock, valued at approximately $9,769,923.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.60% of the stock is owned by company insiders.

Modiv Industrial Company Profile

Modiv Industrial, Inc is an internally managed REIT that is focused on single-tenant net-lease industrial manufacturing real estate. The Company actively acquires critical industrial manufacturing properties with long-term leases to tenants that fuel the national economy and strengthen the nation's supply chains.