Modiv Industrial, Inc. (MDV) To Go Ex-Dividend on August 30th

Modiv Industrial, Inc. (NYSE:MDV) declared a monthly dividend on Thursday, May 23rd, Wall Street Journal reports. Shareholders of record on Friday, August 30th will be paid a dividend of 0.0958 per share on Wednesday, September 25th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 7.39%. The ex-dividend date of this dividend is Friday, August 30th.

Modiv Industrial has a payout ratio of 261.4% 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 $1.53 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 75.2%.

Modiv Industrial Trading Up 2.3 %

Shares of NYSE MDV opened at $15.57 on Friday. The firm has a 50-day simple moving average of $15.58 and a 200-day simple moving average of $15.21. Modiv Industrial has a 52 week low of $11.79 and a 52 week high of $19.12.

Modiv Industrial (NYSE:MDV) last posted 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). Modiv Industrial had a net margin of 1.80% and a return on equity of 0.37%. The company had revenue of $12.29 million during the quarter, compared to analysts’ expectations of $12.53 million. During the same quarter last year, the company earned $0.68 earnings per share. Analysts anticipate that Modiv Industrial will post 1.38 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Alliance Global Partners began coverage on Modiv Industrial in a report on Monday, April 29th. They issued a “buy” rating and a $18.00 price objective on the stock.

Insider Buying and Selling at Modiv Industrial

In other Modiv Industrial 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 transaction, the insider now owns 651,972 shares of the company’s stock, valued at $11,096,563.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders purchased 1,045 shares of company stock worth $15,597 and sold 5,953 shares worth $101,438. 4.60% of the stock is currently 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.