Modiv Industrial, Inc. (NYSE:MDV) Increases Dividend to $0.10 Per Share

Modiv Industrial, Inc. (NYSE:MDV) declared a monthly dividend on Monday, November 11th,Wall Street Journal reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.0975 per share on Friday, April 25th. This represents a $1.17 annualized dividend and a dividend yield of 7.13%. The ex-dividend date is Monday, March 31st. This is an increase from Modiv Industrial’s previous monthly dividend of $0.10.

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 research 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 Stock Performance

Shares of NYSE MDV opened at $16.40 on Tuesday. Modiv Industrial has a 1 year low of $13.50 and a 1 year high of $18.11. The company’s fifty day moving average price is $16.60 and its 200 day moving average price is $15.55. The company has a market capitalization of $158.19 million, a PE ratio of -149.09, a price-to-earnings-growth ratio of 2.54 and a beta of -0.21.

Modiv Industrial (NYSE:MDV) last posted its earnings results on Wednesday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.52). Modiv Industrial had a return on equity of 1.42% and a net margin of 6.72%. The firm had revenue of $11.59 million for the quarter, compared to analysts’ expectations of $11.90 million. During the same period in the previous year, the company earned $0.33 earnings per share. On average, equities analysts expect that Modiv Industrial will post 1.32 EPS for the current year.

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.