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

Modiv Industrial, Inc. (NYSE:MDV) declared a monthly dividend on Tuesday, March 17th. Stockholders of record on Thursday, April 30th will be paid a dividend of 0.10 per share on Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend is Thursday, April 30th.

Modiv Industrial has a dividend payout ratio of 857.1% 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 $0.87 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 137.9%.

Modiv Industrial Trading Up 2.1%

Shares of MDV traded up $0.29 during mid-day trading on Thursday, hitting $14.57. 52,530 shares of the company traded hands, compared to its average volume of 57,626. The business has a 50-day moving average of $14.98 and a 200 day moving average of $14.75. Modiv Industrial has a one year low of $13.62 and a one year high of $17.15. The stock has a market capitalization of $149.66 million, a price-to-earnings ratio of 9.92 and a beta of -0.31.

Analyst Ratings Changes

MDV has been the topic of several research reports. Weiss Ratings raised Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Cantor Fitzgerald assumed coverage on shares of Modiv Industrial in a research report on Wednesday, February 4th. They set an “overweight” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $18.00.

Modiv Industrial Company Profile

Modiv Industrial, Inc (NYSE: MDV) is a publicly traded real estate investment trust that specializes in the acquisition, ownership and management of single-tenant industrial properties. The company’s portfolio is anchored by net-lease agreements with corporate and public sector tenants, providing stable, long-term cash flows. Modiv Industrial focuses on light manufacturing facilities, warehouse and distribution centers, and similar industrial real estate assets that serve as critical links in supply chains.

Modiv Industrial pursues a geographically diversified strategy, targeting properties in key U.S.