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

Modiv Industrial, Inc. (NYSE:MDV) declared a monthly dividend on Wednesday, September 4th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.0958 per share on Tuesday, December 24th. This represents a $1.15 annualized dividend and a yield of 7.05%. The ex-dividend date is Friday, November 29th.

Modiv Industrial has a dividend payout ratio of 1,045.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Modiv Industrial to earn $1.13 per share next year, which means the company may not be able to cover its $1.15 annual dividend with an expected future payout ratio of 101.8%.

Modiv Industrial Stock Down 1.2 %

Shares of NYSE:MDV opened at $16.31 on Wednesday. Modiv Industrial has a twelve month low of $13.50 and a twelve month high of $18.11. The stock’s 50 day moving average is $16.60 and its 200-day moving average is $15.63.

Modiv Industrial (NYSE:MDV) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.52). Modiv Industrial had a return on equity of 1.42% and a net margin of 6.72%. The business had revenue of $11.59 million for the quarter, compared to analyst estimates of $11.90 million. During the same quarter in the previous year, the company posted $0.33 EPS. Equities analysts anticipate that Modiv Industrial will post 1.24 EPS for the current fiscal year.

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.