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

Modiv Industrial, Inc. (NYSE:MDV) declared a monthly dividend on Wednesday, September 4th,Wall Street Journal reports. Investors of record on Friday, November 29th will be given a dividend of 0.0958 per share on Tuesday, December 24th. This represents a $1.15 dividend on an annualized basis and a yield of 7.19%. The ex-dividend date is Friday, November 29th.

Modiv Industrial has a payout ratio of -348.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Price Performance

Shares of NYSE:MDV opened at $16.00 on Thursday. The firm has a fifty day moving average price of $16.60 and a two-hundred day moving average price of $15.64. Modiv Industrial has a one year low of $13.50 and a one year high of $18.11. The company has a market cap of $154.40 million, a price-to-earnings ratio of -145.45, a PEG ratio of 2.66 and a beta of -0.21.

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

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.