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

Modiv Industrial, Inc. (NYSE:MDV) announced 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 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. Equities 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

Shares of NYSE:MDV opened at $15.00 on Friday. The company has a market capitalization of $137.60 million, a P/E ratio of -10.56, a P/E/G ratio of 2.18 and a beta of -0.31. Modiv Industrial has a 1 year low of $10.44 and a 1 year high of $19.12. The business’s 50 day simple moving average is $15.41 and its 200 day simple moving average is $15.18.

Modiv Industrial (NYSE:MDV) last issued its quarterly 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 company had revenue of $12.29 million for the quarter, compared to analyst estimates of $12.53 million. Modiv Industrial had a negative return on equity of 2.82% and a negative net margin of 14.09%. During the same period in the prior year, the company earned $0.68 EPS. On average, sell-side analysts anticipate that Modiv Industrial will post 1.38 EPS for the current fiscal year.

Insider Buying and Selling at Modiv Industrial

In other Modiv Industrial news, major shareholder First City Investment Group, L sold 3,654 shares of the firm’s 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 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 document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have acquired 1,262 shares of company stock valued at $18,620 and have sold 5,953 shares valued at $101,438. Company insiders own 4.60% of the company’s stock.

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.