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

Modiv Industrial, Inc. (NYSE:MDV) announced a dividend on Thursday, March 13th, NASDAQ Dividends reports. Shareholders of record on Wednesday, April 30th will be given a dividend of 0.0975 per share on Thursday, May 15th. The ex-dividend date of this dividend is Wednesday, April 30th.

Modiv Industrial has a payout ratio of 3,900.0% meaning 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 $0.87 per share next year, which means the company may not be able to cover its $1.17 annual dividend with an expected future payout ratio of 134.5%.

Modiv Industrial Trading Up 2.0 %

MDV stock opened at $16.64 on Monday. Modiv Industrial has a 12-month low of $13.62 and a 12-month high of $18.11. The stock has a market capitalization of $165.85 million, a price-to-earnings ratio of -151.27 and a beta of -0.24. The firm’s 50-day moving average price is $15.35 and its two-hundred day moving average price is $15.59.

Analyst Ratings Changes

Separately, B. Riley initiated coverage on Modiv Industrial in a research report on Tuesday, April 22nd. They set a “buy” rating and a $18.00 price objective for the company.

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.