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

Modiv Industrial, Inc. (NYSE:MDV) declared a dividend on Wednesday, November 6th,NASDAQ Dividends reports. Stockholders of record on Friday, January 31st will be paid a dividend of 0.0975 per share on Tuesday, February 25th. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Modiv Industrial’s previous dividend of $0.10.

Modiv Industrial has a payout ratio of -1,170.0% 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 $0.87 per share next year, which means the company may not be able to cover its $1.17 annual dividend with an expected future payout ratio of 134.5%.

Modiv Industrial Price Performance

NYSE:MDV traded up $0.01 during midday trading on Wednesday, hitting $14.42. The company’s stock had a trading volume of 1,764 shares, compared to its average volume of 26,424. Modiv Industrial has a fifty-two week low of $13.69 and a fifty-two week high of $18.11. The firm has a market cap of $139.10 million, a P/E ratio of -131.08 and a beta of -0.20. The firm’s 50 day moving average is $15.37 and its 200-day moving average is $15.77.

Modiv Industrial (NYSE:MDV) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.52). The firm had revenue of $11.59 million for the quarter, compared to analysts’ expectations of $11.90 million. Modiv Industrial had a return on equity of 1.42% and a net margin of 6.72%. During the same period last year, the company posted $0.33 earnings per share. As a group, analysts forecast that Modiv Industrial will post 1.18 EPS for the current 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.