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

Modiv Industrial, Inc. (NYSE:MDV) announced a monthly dividend on Wednesday, September 4th,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 dividend on an annualized basis and a dividend yield of 7.19%. The ex-dividend date is Friday, November 29th.

Modiv Industrial has a dividend payout ratio of -348.5% 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 $1.13 per share next year, which means the company may not be able to cover its $1.15 annual dividend with an expected future payout ratio of 101.8%.

Modiv Industrial Stock Performance

NYSE MDV opened at $16.00 on Thursday. Modiv Industrial has a 52-week low of $13.50 and a 52-week high of $18.11. The company has a market capitalization of $154.40 million, a P/E ratio of -145.45, a P/E/G ratio of 2.66 and a beta of -0.21. The company has a fifty day moving average of $16.60 and a 200-day moving average of $15.64.

Modiv Industrial (NYSE:MDV) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.52). Modiv Industrial had a return on equity of 1.42% and a net margin of 6.72%. The company had revenue of $11.59 million for the quarter, compared to the consensus estimate of $11.90 million. During the same period in the prior year, the firm posted $0.33 earnings per share. As a group, analysts forecast that Modiv Industrial will post 1.24 EPS for the current fiscal 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.