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

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

Modiv Industrial has a dividend payout ratio of 261.4% 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 $1.52 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

MDV opened at $15.00 on Friday. The firm has a market capitalization of $137.60 million, a P/E ratio of -10.56, a price-to-earnings-growth ratio of 2.18 and a beta of -0.31. The stock’s 50 day moving average price is $15.41 and its two-hundred day moving average price is $15.18. Modiv Industrial has a 12-month low of $10.44 and a 12-month high of $19.12.

Modiv Industrial (NYSE:MDV) last released its earnings results on Monday, March 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The business had revenue of $12.29 million during the quarter, compared to analyst estimates 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 business earned $0.68 EPS. As a group, analysts anticipate that Modiv Industrial will post 1.38 earnings per share for the current year.

Insider Transactions at Modiv Industrial

In other news, major shareholder First City Investment Group, L sold 3,654 shares of Modiv Industrial 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 sale, the insider now owns 651,972 shares of the company’s stock, valued at approximately $11,096,563.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have bought 1,262 shares of company stock valued at $18,620 and have sold 5,953 shares valued at $101,438. 4.60% of the stock is owned by 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.