Modiv Industrial, Inc. (MDV) to Issue Monthly Dividend of $0.10 on April 25th

Modiv Industrial, Inc. (NYSE:MDV) declared a monthly dividend on Monday, November 11th,Wall Street Journal reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.0975 per share on Friday, April 25th. This represents a $1.17 annualized dividend and a yield of 7.23%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Modiv Industrial’s previous monthly dividend of $0.10.

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 Stock Down 1.3 %

Shares of NYSE:MDV opened at $16.18 on Wednesday. Modiv Industrial has a 1-year low of $13.50 and a 1-year high of $18.11. The firm’s 50 day simple moving average is $16.61 and its two-hundred day simple moving average is $15.55.

Modiv Industrial (NYSE:MDV) last issued its quarterly earnings results 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 net margin of 6.72% and a return on equity of 1.42%. The firm had revenue of $11.59 million for the quarter, compared to analysts’ expectations of $11.90 million. During the same period in the prior year, the firm earned $0.33 EPS. On average, sell-side analysts anticipate that Modiv Industrial will post 1.32 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.