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

Modiv Industrial, Inc. (NYSE:MDV) declared 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% 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 Stock Performance

Shares of MDV remained flat at $15.00 during midday trading on Friday. 37,494 shares of the company’s stock traded hands, compared to its average volume of 23,479. The firm has a 50 day simple moving average of $15.41 and a 200 day simple moving average of $15.18. Modiv Industrial has a twelve month low of $10.44 and a twelve month high of $19.12. The stock has a market cap of $137.60 million, a PE ratio of -10.56, a price-to-earnings-growth ratio of 2.18 and a beta of -0.31.

Modiv Industrial (NYSE:MDV) last released its quarterly earnings data 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 earned $0.68 EPS. On average, equities analysts anticipate that Modiv Industrial will post 1.38 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder First City Investment Group, L sold 3,654 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $17.02, for a total transaction of $62,191.08. Following the transaction, the insider now directly owns 651,972 shares of the company’s stock, valued at $11,096,563.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, 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 currently owned by corporate 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.