Modiv Industrial, Inc. (MDV) to Issue Monthly Dividend of $0.10 on October 25th

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 annualized dividend and a yield of 6.73%. The ex-dividend date of this dividend is Monday, September 30th.

Modiv Industrial has a dividend payout ratio of 1,045.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Price Performance

Modiv Industrial stock opened at $17.08 on Friday. Modiv Industrial has a 12 month low of $13.50 and a 12 month high of $17.49. The company has a fifty day moving average price of $15.66 and a two-hundred day moving average price of $15.34. The company has a market cap of $160.89 million, a PE ratio of -36.34, a P/E/G ratio of 2.56 and a beta of -0.21.

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

Insider Transactions at Modiv Industrial

In other news, major shareholder First City Investment Group, L bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were purchased at an average price of $14.94 per share, with a total value of $74,700.00. Following the completion of the acquisition, the insider now directly owns 653,944 shares in the company, valued at $9,769,923.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.60% of the company’s 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.