Modiv Industrial, Inc. (NYSE:MDV) Declares Dividend Increase – $0.10 Per Share

Modiv Industrial, Inc. (NYSE:MDV) announced a monthly dividend on Monday, November 11th,Wall Street Journal reports. Investors of record on Monday, March 31st will be given a dividend of 0.0975 per share on Friday, April 25th. This represents a $1.17 dividend on an annualized basis and a yield of 7.23%. The ex-dividend date is Monday, March 31st. This is a boost from Modiv Industrial’s previous monthly dividend of $0.10.

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. 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 Stock Down 1.3 %

Modiv Industrial stock opened at $16.18 on Wednesday. Modiv Industrial has a 52-week low of $13.50 and a 52-week high of $18.11. The firm’s fifty day moving average is $16.61 and its 200 day moving average is $15.55.

Modiv Industrial (NYSE:MDV) last announced its earnings results on Wednesday, November 6th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.52). Modiv Industrial had a net margin of 6.72% and a return on equity of 1.42%. The firm had revenue of $11.59 million during the quarter, compared to analysts’ expectations of $11.90 million. During the same period in the prior year, the company posted $0.33 EPS. Equities research analysts expect that Modiv Industrial will post 1.32 EPS for the current fiscal year.

About Modiv Industrial

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.