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

Modiv Industrial, Inc. (NYSE:MDV) announced a dividend on Monday, March 18th, NASDAQ reports. Investors of record on Tuesday, April 30th will be paid a dividend of 0.0958 per share on Tuesday, May 28th. The ex-dividend date is Monday, April 29th.

Modiv Industrial has a payout ratio of 261.4% 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 $1.52 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 75.7%.

Modiv Industrial Price Performance

Shares of Modiv Industrial stock opened at $15.00 on Friday. The business has a 50-day moving average price of $15.41 and a 200 day moving average price of $15.18. Modiv Industrial has a fifty-two week low of $10.44 and a fifty-two week high of $19.12.

Modiv Industrial (NYSE:MDV) last posted its earnings results on Monday, March 4th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.35). The company had revenue of $12.29 million for the quarter, compared to the consensus estimate of $12.53 million. Modiv Industrial had a negative net margin of 14.09% and a negative return on equity of 2.82%. During the same period last year, the company posted $0.68 earnings per share. On average, equities analysts forecast that Modiv Industrial will post 1.38 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder First City Investment Group, L sold 3,654 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $17.02, for a total transaction of $62,191.08. Following the completion of the transaction, the insider now directly owns 651,972 shares of the company’s stock, valued at $11,096,563.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders purchased 1,262 shares of company stock valued at $18,620 and sold 5,953 shares valued at $101,438. Corporate insiders own 4.60% of the company’s stock.

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.