Modiv Industrial, Inc. (NYSE:MDV – Get Free Report) declared a dividend on Monday, March 18th, NASDAQ reports. Stockholders 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 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. Equities research 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
NYSE MDV remained flat at $15.00 during trading hours on Friday. The company had a trading volume of 37,494 shares, compared to its average volume of 23,479. Modiv Industrial has a 1 year low of $10.44 and a 1 year 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. The stock has a fifty day simple moving average of $15.41 and a 200-day simple moving average of $15.18.
Insiders Place Their Bets
In other news, major shareholder First City Investment Group, L sold 3,654 shares of Modiv Industrial stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $17.02, for a total value of $62,191.08. Following the transaction, the insider now owns 651,972 shares in the company, valued at approximately $11,096,563.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have purchased 1,262 shares of company stock worth $18,620 and have sold 5,953 shares worth $101,438. Corporate insiders own 4.60% of the company’s stock.
About Modiv Industrial
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.
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