Modiv Industrial, Inc. (NYSE:MDV) Declares $0.10 Dividend

by · The Markets Daily

Modiv Industrial, Inc. (NYSE:MDV – Get Free Report) announced a dividend on Wednesday, July 31st, NASDAQ reports. Stockholders of record on Thursday, October 31st will be paid a dividend of 0.0958 per share on Monday, November 25th. The ex-dividend date of this dividend is Thursday, October 31st.

Modiv Industrial has a payout ratio of 1,045.5% indicating that 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 $1.44 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 79.9%.

Modiv Industrial Price Performance

Shares of NYSE:MDV opened at $17.33 on Tuesday. The company’s fifty day moving average price is $16.46 and its 200 day moving average price is $15.42. Modiv Industrial has a 12 month low of $13.50 and a 12 month high of $18.11. The firm has a market capitalization of $163.82 million, a P/E ratio of -37.23, a P/E/G ratio of 2.58 and a beta of -0.21.

Modiv Industrial (NYSE:MDV – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.28). Modiv Industrial had a negative return on equity of 0.78% and a negative net margin of 3.71%. The company had revenue of $11.34 million for the quarter, compared to analyst estimates of $11.76 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. On average, sell-side analysts anticipate that Modiv Industrial will post 1.32 EPS for the current year.

Insider Buying and Selling

In other Modiv Industrial news, major shareholder First City Investment Group, L acquired 5,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were bought at an average cost of $14.94 per share, for a total transaction of $74,700.00. Following the completion of the purchase, the insider now owns 653,944 shares in the company, valued at $9,769,923.36. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.60% of the stock is owned by company insiders.

Modiv Industrial Company Profile

(Get Free Report)

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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