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

Modiv Industrial, Inc. (NYSE:MDVGet Free Report) announced a monthly dividend on Wednesday, March 20th, Wall Street Journal reports. Investors of record on Friday, June 28th will be given a dividend of 0.0958 per share on Thursday, July 25th. This represents a $1.15 dividend on an annualized basis and a yield of 6.93%. The ex-dividend date of this dividend is Friday, June 28th.

Modiv Industrial has a dividend payout ratio of 255.6% meaning 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

Shares of MDV opened at $16.59 on Thursday. Modiv Industrial has a twelve month low of $10.01 and a twelve month high of $19.12. The company’s fifty day simple moving average is $14.97 and its 200-day simple moving average is $15.01.

Modiv Industrial (NYSE:MDVGet Free Report) last announced its earnings results on Monday, March 4th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.35). Modiv Industrial had a negative net margin of 14.09% and a negative return on equity of 2.82%. The firm had revenue of $12.29 million during the quarter, compared to analysts’ expectations of $12.53 million. During the same period in the prior year, the company posted $0.68 EPS. On average, research analysts expect that Modiv Industrial will post 1.38 earnings per share for the current year.

Institutional Investors Weigh In On Modiv Industrial

Several hedge funds and other institutional investors have recently made changes to their positions in MDV. Millennium Management LLC purchased a new position in Modiv Industrial in the 2nd quarter worth about $298,000. UBS Group AG grew its holdings in Modiv Industrial by 851.9% during the 3rd quarter. UBS Group AG now owns 10,024 shares of the company’s stock worth $146,000 after acquiring an additional 8,971 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Modiv Industrial by 1,706.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,186 shares of the company’s stock worth $32,000 after acquiring an additional 2,065 shares in the last quarter. BlackRock Inc. grew its holdings in Modiv Industrial by 365.9% during the 3rd quarter. BlackRock Inc. now owns 80,380 shares of the company’s stock worth $1,174,000 after acquiring an additional 63,129 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Modiv Industrial by 56.7% during the 3rd quarter. Vanguard Group Inc. now owns 307,385 shares of the company’s stock worth $4,488,000 after acquiring an additional 111,266 shares in the last quarter. Hedge funds and other institutional investors own 7.31% of the company’s stock.

About Modiv Industrial

(Get Free Report)

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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Dividend History for Modiv Industrial (NYSE:MDV)

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