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 is Monday, April 29th.
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. 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 Stock Performance
NYSE MDV opened at $15.00 on Friday. The stock’s 50 day simple moving average is $15.41 and its 200-day simple moving average is $15.18. Modiv Industrial has a 1-year low of $10.44 and a 1-year high of $19.12.
Insider Buying and Selling
In other Modiv Industrial 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 sale, the insider now owns 651,972 shares in the company, valued at $11,096,563.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over 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. 4.60% of the stock is currently owned by company insiders.
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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