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

Modiv Industrial, Inc. (NYSE:MDV) announced a dividend on Wednesday, July 31st, NASDAQ reports. Shareholders of record on Thursday, October 31st will be paid a dividend of 0.0958 per share on Monday, November 25th. The ex-dividend date of this dividend is Thursday, October 31st.

Modiv Industrial has a dividend 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 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

Shares of NYSE:MDV traded up $0.01 during trading on Tuesday, reaching $17.53. 2,079 shares of the stock were exchanged, compared to its average volume of 26,609. Modiv Industrial has a 1-year low of $13.50 and a 1-year high of $18.11. The stock has a fifty day moving average of $16.46 and a two-hundred day moving average of $15.42. The firm has a market cap of $165.71 million, a price-to-earnings ratio of -37.23, a price-to-earnings-growth ratio of 2.58 and a beta of -0.21.

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

Insider Activity at Modiv Industrial

In related news, major shareholder First City Investment Group, L acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was purchased at an average cost of $14.94 per share, with a total value of $74,700.00. Following the acquisition, the insider now owns 653,944 shares of the company’s stock, valued at approximately $9,769,923.36. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.60% of the stock is owned by 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.