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

Modiv Industrial, Inc. (NYSE:MDV) declared a monthly dividend on Thursday, September 5th, Wall Street Journal reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.0958 per share on Tuesday, December 24th. This represents a $1.15 annualized dividend and a dividend yield of 7.18%. The ex-dividend date is Friday, November 29th.

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. 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 Up 1.0 %

MDV stock traded up $0.16 on Thursday, hitting $16.02. 1,687 shares of the company’s stock traded hands, compared to its average volume of 24,315. The stock has a market cap of $151.44 million, a price-to-earnings ratio of -33.91, a P/E/G ratio of 2.52 and a beta of -0.23. Modiv Industrial has a 1-year low of $12.30 and a 1-year high of $19.12. The stock has a fifty day moving average of $14.91 and a 200-day moving average of $15.14.

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 company had revenue of $11.34 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $0.31 earnings per share. On average, equities research analysts anticipate that Modiv Industrial will post 1.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder First City Investment Group, L bought 5,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was bought at an average cost of $14.94 per share, for a total transaction of $74,700.00. Following the completion of the acquisition, the insider now directly owns 653,944 shares in the company, valued at approximately $9,769,923.36. The purchase was disclosed in a document filed with the SEC, which is available at this link. 4.60% of the stock is currently 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.