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

Modiv Industrial, Inc. (NYSE:MDV) declared a dividend on Wednesday, May 22nd, NASDAQ reports. Stockholders of record on Wednesday, July 31st will be given a dividend of 0.0958 per share on Monday, August 26th. The ex-dividend date of this dividend is Wednesday, July 31st.

Modiv Industrial has a dividend payout ratio of -884.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Modiv Industrial to earn $1.36 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 84.6%.

Modiv Industrial Stock Performance

NYSE MDV opened at $14.82 on Tuesday. Modiv Industrial has a 1-year low of $11.79 and a 1-year high of $19.12. The stock’s 50 day simple moving average is $14.72 and its 200-day simple moving average is $15.05.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners assumed coverage on Modiv Industrial in a research report on Monday, April 29th. They set a “buy” rating and a $18.00 price objective on the stock.

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.