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

Modiv Industrial, Inc. (NYSE:MDV) announced a monthly dividend on Wednesday, March 20th, Wall Street Journal reports. Shareholders of record on Friday, June 28th will be paid 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 8.14%. The ex-dividend date of this dividend is Friday, June 28th.

Modiv Industrial has a payout ratio of -884.6% 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 $1.36 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 84.6%.

Modiv Industrial Price Performance

Shares of NYSE:MDV opened at $14.13 on Thursday. The stock’s 50-day moving average price is $15.08 and its two-hundred day moving average price is $15.14. Modiv Industrial has a 12-month low of $11.79 and a 12-month high of $19.12.

Wall Street Analyst Weigh In

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